NZ dollar up against US

JAZIAL CROSSLEY
Last updated 17:31 23/11/2012

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The New Zealand dollar rose against the greenback after a quiet day of trading, with the United States market on holiday for Thanksgiving.

The kiwi recently traded at US81.64c, up from US81.49c earlier. On the Trade Weighted Index against major trading partners' currencies it was at 73.30, little changed from 73.31 in the morning.

HiFX senior currency trader Dan Bell said that the kiwi did not move much on the day.

"The long weekend started in the United States yesterday so it is on holiday until Monday which has meant all markets are pretty quiet," Bell said. The kiwi traded between US81.30c and US81.70c.

"The focus will go to the European finance meeting early next week when they will decide on the next tranche of bailout funding for Greece."

On the crosses, the kiwi recently at 78.51 Australian cents, unchanged from the morning. It was at 63.33 euro cents, up marginally from 63.31 euro cents earlier. It rose to 51.18 pence, from 51.14 pence earlier. The kiwi recently traded at 67.08 Japanese yen, down from 67.17 yen earlier.

The kiwi was expected to trade between US81.20c and US82.00c overnight with a slight bias to the upside.

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