Little action in $NZ
PA Wellington The New Zealand dollar closed little changed yesterday in dull trading with the main market in Wellington closed for the province’s anniversary day. The kiwi closed at U566.65/75C compared with an opening at U566.75/85C and Friday’s close at U566.68/78C. During the session it traded between U 566.50 and U 566.70. There was some buying interest from Japan and other Asian centres but turnover was minimal, dealers said. Dealers expect the kiwi to consolidate at current levels and then test the post float high of U567.03C set in October 1987.
The Reserve Bank trade weighted index closed higher at 66.9 against 66.5 on Friday. On the cross rates, the New Zealand dollar was worth Aust93.4lc, 1.1164 marks, 37.41 p, and 85.176 yen.
There was little activity in the United States dollar which rose slightly to 1.6722/ 32 marks and 127.60/70 yen from its New York closes of 1.6675/85 marks and 127.15/ 25 yen. In Sydney, the Australian dollar closed barely steady against the United States dollar after fluctuating narrowly in very thin trading, dealers said.
The Australian unit finished in Sydney at U 571.50/ 55c, ahead of the opening on U571.41/45C but unchanged from its close on Friday.
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Press, 26 January 1988, Page 23
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203Little action in $NZ Press, 26 January 1988, Page 23
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