He said the New Zealand dollar "is going to be under pressure if the US dollar continues to strengthen, which I think it will," Rudings said. OMF is expecting two interest rate hikes by the Federal Reserve in 2017. The Fed is widely expected to hike rates at this month's meeting.
The kiwi didn't move much after figures showed New Zealand's terms of trade fell in the third quarter, reflecting a decline in the value, price and volume of exports. The quake-damaged Statistics New Zealand wasn't able to provide seasonally adjusted numbers. Quotable Value said the average value of a New Zealand home rose 12 percent to $624,675 in November from a year earlier, the weakest annual growth rate since May.
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The kiwi fell to 56.56 British pence from 57.24 pence late yesterday. It gained to 95.67 Australian cents from 95.56 cents and fell to 4.8837 yuan from 4.9169 yuan. The local currency declined to 66.83 euro cents from 67.21 cents. rose to 80.86 yen from 80.38 yen.
The local currency rose to 80.86 yen from 80.38 yen and is now trading at its highest level against its Japanese counterpart since the start of the year.
The two-year swap rate was unchanged at 2.24 percent and the 10-year swap rate rose 6 basis points to 3.29 percent.