KEY POINTS:
The New Zealand dollar put in a firm performance on the last day before a holiday weekend after employment data didn't scare investors too much.
By 5pm the New Zealand dollar was US51.03c at 5pm from US50.12c yesterday, having ranged overnight between about US51.50c and US50.20c.
News that unemployment increased by a seasonally adjusted 10,000 to 105,000 was well received.
This was because in the December quarter, employment increased by a seasonally adjusted 0.9 per cent to 2.19 million - the highest level of employment recorded since the survey began.
BNZ Capital currency strategist Danica Hampton said the NZ dollar rose on position-squaring and profit-taking before the US non-farm payrolls data overnight.
The Bank of England and European Central Bank are also making interest rate announcements overnight.
"The jobs data wasn't as bad as some feared. Unemployment kicked up to 4.6 per cent, but employment was a lot stronger than expected largely due to an increase of part time workers," she said.
The NZ dollar was trading in a US50c to US51.5c range.
The kiwi was up against the Australian dollar to A79.30c at 5pm from A78.90c at yesterday's local close, and down to 45.60 yen from 45.78. The trade weighted index rose to 51.64 at 5pm from 51.48 yesterday.
Reuters currency rates:
5pm today 5pm yesterday
NZ dlr/US dlr US51.03c US51.12c
NZ dlr/Aust dlr A79.30c A78.90c
NZ dlr/euro 0.3975 0.3930
NZ dlr/yen 45.60 45.78
NZ dlr/stg 35.37 35.50
NZ TWI 51.64 51.48
Aust dlr/US dlr 64.34c 64.75c
Euro/US dlr 1.2839 1.3012
US dlr/yen 89.40 89.56
- NZPA
