The New Zealand dollar closed this evening where it opened this morning after taking a trip lower as investors cashed up long positions in the local currency.
At 5pm the kiwi was at US64.18c as it was at 8.30am (from US64.25c at 5pm last night), while the Australian dollar was at US73.58c (US73.42c last night).
Westpac chief currency dealer Basil Payn said it was "a very quiet pre-Christmas day" in the market today with the kiwi trading in a US63.97c to US64.30c range.
"We opened around the highs, we saw some continued profit taking from long positions through the course of the day and drifted down to the lows, and we've settled down around about US64.15c to US64.20c here at the end of the day."
Mr Payn didn't expect to see much more excitement during tonight's offshore sessions, picking the kiwi to trade between US63.80c and US64.50c tonight and throughout the period between Christmas and New Year.
Meanwhile, at 5pm in Wellington the euro was at US$1.2402 (US$1.2388 last night), and the greenback was buying 107.45 yen (107.80).
On the crosses, the kiwi was buying A87.26 (A87.48c), 0.5175 euro (0.5185), 68.96 yen (69.22), 36.38 pence (36.38), and 0.8066 Swiss francs (0.8058).
The trade weighted index was at 64.39 (64.54), the monetary conditions index was at plus 434 (446) and 90-day bank bills were at 5.34 per cent (5.33).
On the debt market, April 2004 bonds were unchanged at 5.15 per cent, February 2006s were at 5.60 per cent (5.58), and November 2011s were at 5.89 per cent (5.87).
- NZPA
<i>Currency:</i> Profit taking in Kiwi sole feature in quiet pre-xmas trade
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