The New Zealand dollar remained subdued today following a quiet start to the week's trading.BNZ said it expected the NZ dollar to spend most of the week trading within the range of 72-74USc."It has been a relatively quiet start to the week, we had a
The New Zealand dollar remained subdued today following a quiet start to the week's trading.
BNZ said it expected the NZ dollar to spend most of the week trading within the range of 72-74USc.
"It has been a relatively quiet start to the week, we had a reasonably bullish opening. For the most part the kiwi's really just traded in line with what's been seen with the euro and the aussie," BNZ strategist Mike Jones said.
The NZ dollar would probably tread water until key US manufacturing data was released later this week, he said.
The NZ dollar was little changed at 73.41USc at 5pm from 73.39USc at 8am and 72.78USc at 5pm on Friday. It had reached an eight-month high of 74.18USc last week.
Rankin Treasury said that overall the NZ dollar remained within recent ranges.
"Expectations remain high that the 74USc level will be a bridge too far for the NZ dollar, but we are not in that camp and we expect this level to give way to see the NZ dollar march on higher toward 75.50USc," the firm said.
Against the Australian dollar the NZ dollar was at 76.64Ac at 5pm from 76.52Ac at 8am and 76.59Ac at 5pm on Friday.
The kiwi slipped to 61.82 yen at 5pm from 61.98 at the same time on Friday, while the trade weighted index edged up to 66.49 from 66.39 on Friday.
