NZD up against greenback

JAZIAL CROSSLEY
Last updated 17:19 25/09/2012

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The New Zealand dollar rose against the greenback, in a quiet day with movements restricted to a 30 basis point range.

The kiwi recently traded at US82.31c, up from US82.09c earlier. It was at 73.00 on the Trade Weighted Index of major trading partners' currencies, up from 72.88 in the morning.

HiFX currency trader Alex Hill said it had been a fairly uneventful day for the kiwi.

"We've just seen markets pick up a little bit offshore. There was some data out of Germany last night [with the Ifo Business Climate Survey released, down for the fifth month in a row and hitting a two year low] but haven't seen anything major on the local front at all," Hill said.

"The kiwi did get down to US81.80c last night where there is key support. On the top side there is a lot of supply for kiwi just above US83.00c.

"There is US consumer confidence and German CPI out tonight that the market will be watching, but I think at this stage it is not going to see a massive move based on the data."

On the crosses the kiwi recently traded at 78.87 Australian cents, up from A78.76c earlier. It was at 63.62 euro cents, up from 63.50 euro cents in the morning. It rose to 50.72 pence from 50.61 pence earlier, and was at 63.99 Japanese yen, up from 63.93 yen in the morning.

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- © Fairfax NZ News

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