The New Zealand dollar pushed to a fresh 6-year closing high on a stronger euro and brisk demand.
By the 5pm in Wellington, the kiwi was at US62.82c from US62.60c at 5pm yesterday, its highest local close since October 1997. It traded in a US62.58c to US62.87c range.
The aussie was at US71.87c from US71.54c at 5pm yesterday.
ANZ Investment Bank foreign exchange dealer Glenn Mackersy told NZPA a feature of trade in the kiwi today was ' 'plenty of interest from the Japanese buyers".
Mr Mackersy said the kiwi had initially been squeezed a little bit lower shortly after the open this morning, "There was some selling coming out of the States earlier on in the day pushing it down to its lows".
"But there was a little bit of strength in the euro so that helped the aussie and the kiwi trace a little bit higher. I think the market was a little bit short in the kiwi so there were some guys buying it back, and with that fresh buying interest from Asia, that's pretty much what saw the kiwi go to its highs of US62.87c.
Mr Mackersy expected the kiwi to come back at little tonight, but said it was likely to hit US63c by the end of the week.
He expected a range of about US62.50c to US62.95c tonight.
Meanwhile, the greenback was buying 108.40 yen (108.74), while the euro was buying US$1.1650 (US$1.1565).
On the crosses, the kiwi was buying A87.41c (A87.51c), 68.15 yen (68.07), 37.50 pence (37.49), 0.5396 euro (0.5412), and 0.8480 Swiss francs (0.8482).
The Australian dollar was at $1.1433 ($1.1429).
The trade weighted index was at 64.53 (64.48), while the monetary conditions index was at plus 454 (450), and 90-day bank bills were unchanged at 5.42 per cent.
On the debt market, April 2004 bonds were at 5.31 per cent (5.30), February 2006s were at 5.86 per cent (5.92), and November 2011s were at 6.24 per cent (6.23).
- NZPA
<i>Currency:</i> Onwards and upwards for kiwi
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