The New Zealand dollar held steady against the greenback today, remaining fairly rangebound while marginally outperforming other crosses on the back of revised retail data.
The kiwi recently traded at US77.69c, little changed from US77.67c this morning. On the trade weighted index against major trading partners' currencies the kiwi was at 70.60, down from 70.69.
HiFX senior currency strategist Dan Bell said Statistics New Zealand's upwardly revised retail figures had seen the kiwi post small gains against most major crosses.
The department's corrected figures showed retail sales volumes fell 1.4 per cent between December 2011 and March this year, not 2.5 per cent.
Bell said the focus would be on the Reserve Bank's official cash rate decision tomorrow, with European headlines the other big driver ahead of Greece's election this weekend.
On the crosses, the kiwi was recently trading at 78.09 Australian cents, unchanged from the morning. It rose to 61.87 Japanese yen from 61.72 yen in the morning. It was at 49.95 pence, up from 49.85 pence in the morning, and climbed to 62.17 euro cents from 62.08 euro cents earlier.
Having trended upward over the course of the week, Bell said the topside bias could continue to extend overnight.
"It wouldn't surprise me to see the kiwi hold tight at US77.20c, with the potential for a break above US77.90c to open up US78.00c."
- © Fairfax NZ News