The New Zealand dollar maintained its five-month high yesterday, closing above 45USc and not far from its opening price.
At 5 pm, the kiwi was trading at 45.32USc, having begun the day about 45.27USc.
It reached a high in the thin market of 45.4USc, although one dealer said there had been one trade up to 45.50USc.
He said the next resistance level on the top side was 45.50-60USc.
"It was a pretty quiet day today - it was Monday morning, which is always quiet, because obviously a lot of our interest is coming from offshore these days, particularly out of the United States, and we didn't get that today. Secondly, it was a Tokyo holiday as well.
"The kiwi had done reasonably well on Friday night again, so I think people expected the market to come off a little bit this morning. In fact, it actually rallied small for most of the day, and then there was a local seller who came out and had a few to go."
On the crosses the kiwi was at 79.47Ac, (79.05Ac at Friday's close), 52.75 (52.51), 30.14 pence (30.02) and 0.4735 euros (€0.4724 ).
- NZPA
<i>Currency:</i> Quiet day for traders
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