5.40pm
The New Zealand dollar traded quietly in today's domestic session although it began to firm slightly towards the opening of the European market.
At 5pm, the kiwi was at US64.05c (from US63.99c at 5pm last night), while the Australian dollar was at US72.15c (US72.33c).
The kiwi traded between US63.82c and US64.18c today and was likely to remain in a similar band overnight while the US markets were closed for Thanksgiving Day.
BNZ currency strategist Sue Trinh said the kiwi started the day on a weak foot but was "firming up a tad" as the European session approached.
"The kiwi is naturally benefiting from the US dollar being a little bit weaker across the board," she told NZPA today.
The market is waiting for the Reserve Bank's (RB) review of official cash rate (OCR) on December 4 with members evenly split as to whether RB governor Alan Bollard would leave the OCR at 5.0 per cent or raise it to 5.25 per cent.
"If the RB doesn't deliver with a rate hike it could weigh on the kiwi in the nearer term and...(cause) a little bit of a pull-back before the overall upward trend exerts itself," Ms Trinh said.
Meanwhile, the greenback turned in a mixed performance today, as did the euro.
At 5pm in Wellington, the euro was at US$1.1919 (US$1.1920), while the greenback was buying 109.44 yen (108.99).
On the crosses, the kiwi was buying A88.79c (A88.48c), 0.5370 euro (0.5368), 70.11 yen (69.73), 37.34 pence (37.43), and 0.8310 Swiss francs (0.8303).
The Australian dollar was buying $1.1269 ($1.1304).
The trade weighted index was at 65.40 (65.27), while the monetary conditions index was at plus 520 (510), and 90-day bank bills were unchanged at 5.42 per cent.
On the debt market, April 2004 bonds were at 5.28 per cent (5.27), February 2006s were at 5.85 per cent (5.84) and November 2011s were unchanged at 6.23 per cent.
- NZPA
<i>Currency:</i> Quiet day for New Zealand dollar
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