The New Zealand dollar traded in a tight range against the US dollar yesterday, showing how quiet the forex markets were, a broker said.
At 5pm, the New Zealand dollar was buying US57.79c from US57.43c at 5pm yesterday, while the aussie was at US66.34c (US65.69c).
BNZ currency strategist Sue Trinh said trading of the kiwi ranged between US57.58c and US57.80c, showing how quiet the market was.
"The kiwi started out firmer from overnight with the euro printing a little bit firmer as well," she told NZPA.
"The kiwi managed to get a leg-up on the weaker US dollar in general."
The euro was at $US1.1762 at 5pm in Wellington from $US1.1711 at 5pm last night.
"That's why we're (the kiwi) firmer at this time today, from yesterday, when the kiwi was looking a little bit vulnerable and weak."
Key data being released in the US tonight, including retail sales figures and initial jobless claims, could have some effect on currency trading, Ms Trinh said.
Against the aussie the kiwi was A87.10c (A87.44c).
The US dollar was buying 117.74 yen (117.88).
On the crosses at 5pm, the kiwi was buying 68.04 yen (67.63), 34.62 pence (34.69), 75.54 Swiss francs (75.25), and 49.12 euro (48.99).
The monetary conditions index was at plus 155 (138), the trade-weighted index was at 60.98 (60.77) and 90-day bank bill yields were at 5.27 percent (5.26).
The February 2005 yields were at 4.77 percent (4.74), the November 2006s were at 4.78 percent (4.76), and the November 2011s were at 5.08 percent (5.06).
- NZPA
<I>NZ currency:</I> Kiwi a little bit firmer today, but traded in a tight range
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