The New Zealand dollar limped along today, barely moving in an absence of major events.The kiwi was worth 70.20USc at 5pm today, little changed from 70.26USc at the same time yesterday.The dollar traded in a 17USc range and essentially went sideways with
The New Zealand dollar limped along today, barely moving in an absence of major events.
The kiwi was worth 70.20USc at 5pm today, little changed from 70.26USc at the same time yesterday.
The dollar traded in a 17USc range and essentially went sideways with a lack of any events overnight, said Westpac currency strategist Imre Speizer.
With no significant local data today the dollar was in a "wait and see" market, he said.
There were big events hovering in the background, such as European and US monetary policy, but within that markets looked for specific events looked for things they could "touch and feel to provide a catalyst for the next day's move and we didn't get any of those last night," he said.
Against the Australian dollar the kiwi lifted slightly to 77.99Ac at 5pm from 77.90Ac yesterday and was also up to €0.5155 from €0.5146.
It was down to ¥63.90 from ¥64.36 against the Japanese currency and also down to 45.24p against the UK pound, from 45.36p.
The trade weighted index slipped to 65.04 from 65.11.
Meanwhile, the US dollar consolidated on Tuesday with traders on the sidelines on speculation the Federal Reserve would hose down talk of early monetary tightening, leading some investors to steer clear of the greenback.
In early Asian trade, the US dollar index was flat at 80.526, staying well off its recent eight-month highs. The euro was steady at $US1.3598 from late in New York on Monday when it lost some ground.
The euro inched up on the yen to ¥124.12 yen, having lost more than 0.6% on Monday after a German Finance Ministry spokesman said the country has made no decisions on a lifeline for Greece.
The dollar pared some of its losses on the yen, rising to ¥91.25, from ¥91.11 in New York late on Monday. Near term resistance is seen around ¥92.15 – the one-month high struck last week.
