The New Zealand dollar finished a busy day weaker, but it closed well bid after being hammered overnight Monday to 45.75USc by more poor business confidence numbers.
The kiwi ended at the nominal 5 pm close comfortably above the overnight low, at 45.91c, but down on the 46.17c finish on Monday.
It traded in a 45.71c to 46.09c range.
A currency dealer said the unit, while active, was still rangebound - and cheap. "It was a see-saw day," he said.
The kiwi started strongly, recovering from the Institute of Economic Research's Quarterly Survey of Business Opinion, which showed business confidence at its lowest in 16 years.
The Australian dollar then dragged it down but the kiwi closed well bid as sellers of aussie turned their attention its way.
The dealer did not expect American inflation figures overnight to have much impact because New Zealand traders have lately been paying less attention to the big dollar. He expected an overnight range of 45.70USc to 46.16c.
On the cross rates the kiwi was at 78.52Ac (78.95c).
- NZPA
Kiwi finishes under 46USc
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