NZ dollar hovers near two-week high
The kiwi trailed off in sibdued trading due to a holiday in the US.
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The New Zealand dollar trailed off today after pushing to a two-week high against the greenback in thin trading conditions due to a public holiday in the US.
By 5pm, the kiwi was at 77.17USc, up from 76.82USc late yesterday afternoon but was unable to recapture the 77.45USc seen overnight.
Against the aussie, the kiwi was at 77.73Ac from 77.80Ac yesterday.
Higher commodity prices boosted the kiwi overnight, ANZ analysts said.
While the currency was likely to revisit previous highs around 78USc if it breaks above 77.50USc, that was unlikely to happen in light trading with the US market closed for Martin Luther King Day.
The kiwi was up against the euro, at €0.5808 from €0.5760 yesterday, and flat against sterling.
The currency was up slightly against yen, at ¥63.73 from ¥63.68, but fell short of a two-month high of ¥64.53 yesterday evening.
The trade weighted index rose to 69.39 from 69.15.
The euro remained soft, giving up some ground amid increasing uncertainty over a eurozone safety fund this week.
European finance ministers have made no firm decisions about extra measures to tackle crippling debt levels that have so far affected Greece, Ireland, Portugal and Spain.
New tools to quell the problem have been called for, on top of the European Financial Stability Facility.
NZPA
Tue, 18 Jan 2011
Tue, 18 Jan 2011
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NZ dollar hovers near two-week high
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