Currency: NZ dollar holding in steady range

The New Zealand dollar moved in a relatively constrained range against the greenback, helped by broad weakness in the United States currency.

By 8am the kiwi was buying US64.53c, little changed from its level at 5pm on Friday, after moving in a range between about US64.75c and US64.15c.

Sentiment towards the kiwi remained fairly negative, with investors becoming increasingly worried about the fragility of New Zealand's recovery.

The kiwi was unchanged against the Australian dollar at A79.96c by 8am today and barely changed against the European currency at 0.4591 euro.

The NZ dollar slipped to 61.44 yen from 61.85 at Friday's local close, while the trade weighted index eased to 60.75 at 8am today from 60.84 at 5pm on Friday.

The US dollar fell broadly after China renewed its call for a super-sovereign reserve currency.

- NZPA