5.37pm
The New Zealand dollar spent today's session camped out just above the US69c mark as the market readies itself for next week's official cash rate (OCR) review, a broker said.
At 5pm, the kiwi was at US69.25c (from US69.16c at the same time last night), having opened at USUS69.38c.
It traded in
the narrow band of US69.20c to US69.35c.
BNZ chief currency dealer Mike Symonds said the kiwi had today consolidated above the US69c mark.
He said both the United States and Australian dollars had traded in narrow ranges today.
"Overall one has to be reasonably impressed by the kiwi's performance this week," Mr Symonds told NZPA today.
"We go into next week's OCR with the kiwi finding plenty of support from yield related offshore investors.
"The OCR review will the focus of the market's attention next week," he said, noting the kiwi could push on towards US70c in the week ahead.
The OCR is currently at 6.25 per cent.
At 5pm, the aussie was at US73.67c (US73.58c), the euro was at US$1.2611 (US$1.2585), and the greenback was fetching 107.68 yen (107.90).
On the crosses, the kiwi was buying A94.01c (A94.00c), 0.5494 euro (0.5496), 37.89 British pence (38.07), 74.59 yen (74.64) and 0.8450 Swiss francs (0.8449).
The monetary conditions index was at plus 926 (924), while the trade-weighted index was at 69.06 (69.04).
In the money market, 90-day bank bill yields were at 6.75 per cent (6.74), while on the bond market February 2006s were at 6.19 per cent (6.16), July 2009s were at 6.07 per cent (6.03), and April 2013s were at 6.08 per cent (6.03).
- NZPA
