Only small moves for Kiwi dollar

The New Zealand dollar traded within relatively narrow ranges against the greenback overnight.

By 8am the kiwi was buying US67.72c, having moved in a range between about that level and US67.25c during the night.

In its morning briefing notes, ANZ bank said there was little to report in a 24-hour review of NZ dollar moves.

Both the NZ and Australian dollars managed to stay within ranges in overnight trading.

Perhaps the kiwi was destined to spend the time until the end of the month affected by residual northern hemisphere summer vacations, ANZ said.

That may spell relatively narrow ranges.

At 8am the NZ dollar was also buying 0.4750 euro, little changed from its level at 5pm yesterday, and was up to 63.79 yen from 63.62.

Against the Australian dollar, the kiwi was at A81.40c at the local open, from A81.20c, while the trade weighted index lifted to 63.00 at 8am from 62.85 at 5pm.

The US dollar and yen edged broadly lower in thin trade as gains in global stock markets and upbeat US regional manufacturing data eroded safe-haven demand for the two currencies.

A report showed manufacturing in the US Mid-Atlantic region expanded in August for the first time in 10 months while a rebound in China stocks also lifted spirits. But an increase in the number of US workers filing first-time jobless claims last week kept investors cautious.

- NZPA