KEY POINTS:
The New Zealand dollar traded slightly higher today with building consents data providing a focus during the session.
By 5pm the New Zealand dollar was US70.52c, up from US70.16c at 8am and little changed from US70.56c at 5pm yesterday.
The currency rose slightly after the number of consents issued for new houses in July rose slightly from June's 7-1/2-year low.
During the Asian session the US dollar retreated against a basket of currencies amid fears that Russia may cut oil supplies to Western Europe.
Support is seen for the NZ dollar at around US69.85c and resistance at around current levels.
Going into the weekend the focus is on moves in the US dollar.
The NZ dollar eased against the yen to 76.85 by 5pm from 76.99 at 5pm yesterday.
The kiwi opened locally at 0.4773 euro, the same level as it had closed the previous evening, and by the end of the day reached 0.4780.
The kiwi was little changed against the aussie, buying A81.45c around 5pm. The trade weighted index was to 65.73 at 5pm from 65.72 yesterday.
Reuters currency rates:
NZ dlr/US dlr US70.52c US70.56c
NZ dlr/Aust dlr A81.45c A81.41c
NZ dlr/euro 0.4780 0.4773
NZ dlr/yen 76.85 76.99
NZ dlr/stg 38.47p 38.42p
NZ TWI 65.73 65.72
Australian dollar US86.58c US86.64c
Euro/US dollar 1.4755 1.4780
US dollar/yen 109.02 109.15
- NZPA
