The New Zealand dollar continued to consolidate in a narrow range in quiet trading today.Dealers said it was quite simply a quiet day in the currency market.The NZ dollar was buying US71.06c at 5pm from US71.04c at 8am, having moved between about US71.30c
The New Zealand dollar continued to consolidate in a narrow range in quiet trading today.
Dealers said it was quite simply a quiet day in the currency market.
The NZ dollar was buying US71.06c at 5pm from US71.04c at 8am, having moved between about US71.30c and US70.75c during the night.
The euro slipped on renewed worries about Greece financing its debt obligation. The doubts bolstered the yen. The NZ dollar was at 0.5305 euro at 5pm, little changed from 0.5304 euro at 5pm yesterday. It fell to 65.97 yen from 66.24 yen yesterday.
BNZ strategist Mike Jones said the NZ dollar was sidelined, with the focus of markets remaining firmly on Europe and the escalating Greek fiscal crisis.
Worries about Greece's sovereign solvency cast a shadow over equity markets, which had otherwise been bolstered by upbeat US earnings announcements and positive British economic data, Mr Jones said.
The associated paring of risk appetite tended to weigh on the NZ dollar, as investors increased exposures to safe haven currencies such as the US dollar and yen.
The NZ dollar rose to A76.59c at 5pm from A76.26c yesterday, but the Australian dollar was seen as being supported by firm interest rates.
The trade weighted index was barely changed at 65.96c at 5pm from 65.94 yesterday.
