NZD up ahead of RBNZ announcement

JAZIAL CROSSLEY
Last updated 17:43 05/12/2012

Relevant offers

National business

Two people arrested in connection with scam targeting the elderly in Christchurch Cruise industry may plateau after a decade of remarkable growth Female digger driver competes for 'Miss Pinup New Zealand' title Masala Indian restaurant chain assets frozen in High Court order Prime Hamilton building set from major upgrade Auckland's commercial property continues to be under pressure: JLL E-commerce could be Kiwi firms' big chance in China Cruise ship Azamara Quest 'hit rocks in Marlborough' TPPA signed, sealed, delivered – it's ours ANZ traders scandal drags in other banks

The New Zealand dollar rose against the greenback today with light trading as markets look towards tomorrow's Reserve Bank of New Zealand monetary policy announcement.
 
The kiwi recently traded at US82.48c, up from US82.40c in the morning. It was at 73.40 on the Trade Weighted Index against major trading partners' currencies, up marginally from 73.39 in the morning.
 
Bank of New Zealand market strategist Mike Jones said trading in the kiwi was overall very quiet.
 
"There was a surge in the kiwi against the yen, which was the most eye-catching development through the day. It reflects a bit more speculation about the Bank of Japan easing to lower the yen," Jones said.

The kiwi was at 67.84 Japanese yen, up from 67.41 yen in the morning.
 
"In general, most traders and investors are treading water ahead of the Reserve Bank of New Zealand announcement. We expect it will keep rates on hold."
 
On the crosses, the kiwi recently traded at 78.70 Australian cents, up from A78.60c earlier. It was at 62.92 euro cents, unchanged from the morning. Against the British pound it was at 51.20 pence, up from 51.16 pence earlier.
 
Overnight, Jones expected the kiwi would shuffle sideways between US82.00c and US82.90c.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content