Kiwi up against US, euro, aussie

The New Zealand dollar rose against the greenback today with strength against other countries' currencies also seen on the cross rates.

The kiwi recently traded at US81.13c, up from US81.07c in the morning. It was at 72.40 on the Trade Weighted Index against major trading partners' currencies, down from 72.47 earlier.

ASB Institutional head of institutional FX sales Tim Kelleher said the kiwi had a quiet day but performed well on the cross rates.

It was strong against both the Australian currency, at 78.33 Australian cents, up from A78.09c in the morning. It was at 63.49 euro cents at 5pm, up from 63.27 euro cents earlier.

"The kiwi dollar managed to hold onto its gains on the day from Friday," Kelleher said.

"I wouldn't be surprised if when the London market opens we see a little bit profit taking."

On the crosses, the kiwi was at 50.75 pence, up from 50.60 pence earlier. It rose to 63.50 Japanese yen, from 63.36 yen in the morning.

Kelleher expected the kiwi to trade between US80.75c and US81.50c overnight.

"I think the risk is that it will drift off a bit but it should be supported on dips still."

- © Fairfax NZ News