The New Zealand dollar edged down in quiet trade today in a market thinned by the upcoming Independence Day holiday in the United States.
The kiwi made a little ground against all major currencies but was essentially range bound and still down on yesterday's close against some units.
Against the
US dollar, it rose to US60.85c from US60.89c at Monday's close. It lifted against the Australian dollar to A81.82c from US81.66c at the opening, although it ended a little down on yesterday's A81.87c close.
The kiwi touched a four-year low overnight of 0.4717 against the euro, but ended on 0.4752 against 0.4761 yesterday. The euro was strong against all currencies on the prospect of higher interest rates.
The trade-weighted index ended at 60.99 against 61.07 yesterday.
The euro stayed in sight of a one-month high against the US dollar and a record peak versus the yen after data suggested the prospects for higher interest rates had lessened in the United States but risen in the euro zone.
The euro struck the highs in the previous session after a June euro zone manufacturing index showed its best reading in six years, while separate data showed US factory activity in the same month grew at the slowest pace in 10 months.
The stronger-than-expected factory data for Europe supported expectations that the European Central Bank could accelerate the pace of rate hikes.
Meanwhile, the US data suggested that the US economy may be slowing down, feeding speculation that the Federal Reserve is about to pause its two-year campaign of raising interest rates.
5pm today 5pm Monday
NZ dlr US60.85c US60.89c
NZ dlr/Aust dlr A81.82c A81.87c
NZ dlr/euro 0.4752 0.4761
NZ dlr/yen 69.72 69.68
NZ dlr/stg 33.00p 32.99p
NZ TWI 60.99 61.07
Australian dollar US74.38c US74.38c
Euro/US dollar US1.2804 US1.2782
US dollar/yen 114.56 114.44
- NZPA
