The New Zealand dollar rose after figures showed a stronger-than-expected gain in first-quarter retail sales, but is tipped to stay in its recent range until this week's dairy auction.
The kiwi rose to US68.73c by 5pm today from US68.55c in late New York trading on Friday. The trade-weighted index edged up to 74.88 from 74.68, below the Reserve Bank's latest projected average of 76 for the TWI in the June quarter.
Retail sales rose 1.5 per cent, seasonally adjusted, in the first quarter, up from 0.9 per cent three months earlier. Sales of vehicles and parts climbed 5.9 per cent in the first quarter.
The kiwi rose to 53.25 British pence from 53.06p on Friday, 62.86c from 62.66c, 77.91 from 77.65, 4.7417 yuan from 4.7246 yuan. It held at A92.85c from A92.86c.
