WELLINGTON - The New Zealand dollar ended softer after spending a very quiet session trading in a very tight range.
The kiwi traded in a range of 46.35USc to 46.60c as did the aussie and it showed no reaction to the Reserve Bank's decision to leave its official cash rate unchanged at yesterday's regular review.
"We have just got to wait until the Americans get back," a currency dealer said.
The kiwi, which had opened at 46.54c, closed down at 46.34c, from 46.59c on Tuesday.
The Australian dollar locally was lower at 59.61c.
On the cross rates the kiwi was lower against all major currencies being down at 77.74Ac, 48.67 yen, 30.62 pence, 0.9521 marks, 0.7560 Swiss francs and 0.4868 euro.
The local unit's trade-weighted value was down at 51.39. Following the central bank's inaction on rates the yield on 90-day bank bills remained at 6.82 per cent. As a result monetary conditions eased with the index moving out to minus 544, from minus 510.
With the US market closed for Independence Day, local bond prices finished unmoved.
- NZPA
Kiwi shrugs off status quo
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