The New Zealand dollar saw some action yesterday, after a hitherto deathly dull week, as the Australian dollar rallied on employment data.
The kiwi finished at 46.17USc yesterday, hitting a high of 46.27USc and a low of 45.97USc.
Seasonally adjusted Australian unemployment figures fell in June to 6.6 per cent.
"That got the aussie up to a high of 59.15USc," Deutsche Bank's Andrew Burdon said.
He said option-related selling was around 46.25USc to 46.30USc in the kiwi, but added that he saw the kiwi drifting back to around 46USc in the short term.
For the remainder of the week, the market is looking forward to American retail sales numbers and local commodity price data, and on Monday all eyes will be on June quarter inflation numbers.
Interest rate implications from that data will be accounted for in the next key release, the Reserve Bank's monetary policy statement on August 16.
On the crosses, the kiwi was at 78.22Ac (78.10Ac), 49.93 yen (49.30), 30.70 pence (30.35), 0.9592 marks (0.9467), 0.7631 Swiss francs (0.7510), and 0.4904 euros (0.4840).
The trade weighted index reflected those cross gains, closing at 51.63 (51.23) and with the 90-day bill yields shedding just a basis point to 6.82 per cent.
Here, the February 2001s firmed with the yield falling a point to 6.76 per cent, but longer bonds softened a touch.
- NZPA
Kiwi firms up as aussie rises
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