The New Zealand dollar traded in a relatively narrow range against the greenback overnight with markets in the United States closed for the Independence Day long weekend.The kiwi pushed to around US69.40c before 7pm, then fell away to briefly drop below U
The New Zealand dollar traded in a relatively narrow range against the greenback overnight with markets in the United States closed for the Independence Day long weekend.
The kiwi pushed to around US69.40c before 7pm, then fell away to briefly drop below US68.60c early today, and by 8am was at US68.82c.
In its morning briefing notes, ANZ said attempts at both sides of a relatively narrow range for the NZ dollar were easily thwarted in illiquid markets overnight.
"Perhaps markets will start their engines today after spending a session in neutral given the US holiday," ANZ said.
Today the focus would be on the Reserve Bank of Australia's interest rate announcement, with no change expected.
The NZ dollar slipped to 0.5487 euro at 8am today from 0.5501 at 5pm yesterday, as the European currency fell broadly in subdued trade, after hitting a six-week high on weak US jobs data late last week, while the US dollar steadied against a currency basket.
Traders were wary of chasing the greenback lower with the US markets closed.
The kiwi was also down to 60.38 yen at 8am from 60.66 at 5pm, but rose to A82.01c against the Australian dollar from A81.79c. The trade weighted index dropped to 65.98 at 8am from 66.14 at 5pm.
