Little interest in kiwi

Press, 15 September 1988, Page 36

Little interest in kiwi

PA Wellington The New Zealand dollar changed little in lacklustre trading yesterday, dealers said. Opening at U561.90/90C the kiwi ended the day at U561.70/80C after trading through a high of US6I.9C and a low of U561.55c. “There’s been no interest at all,” but the release of the United States trade figures, expected about midnight, could see more action tomorrow, one dealer said.

Other dealers expected the kiwi to remain in a tight range but, together with the Australian dollar, to move in the opposite direction to the U.S. dollar after the data release. A worse-than-expected figure from the U.S. should only provide small support and U562.4C is expected to be the kiwi’s holding rate, they said. On the cross rates at yesterday’s close, the kiwi was worth Aust77.s9c, 1.14 marks, 36.44 p, 82.51 yen and .9642 Swiss francs. The Australian dollar at yesterday’s New Zealand close was worth U579.55/62C, after trading through a high of U579.77C and a low of

U579.45C. The Reserve Bank trade weighted index closed at 61.7, the same as its opening fix In Sydney, the Australian, dollar closed lower after the currency was marked down overnight by Japanese investment houses and cautious trading ahead of tonight’s July U.S. trade dealers said. The Australian dollar closed at U579.60/65C from Tuesday’s U579.75/80C finish The Australian dollar closed at 46.93/03 from Tuesday’s 46.94/04 1.4734/55 marks from 1.4706/27, 1.2422/40 Swiss francs from 1.2401/20, 106.23/36 yen from 106.05/18 and NZ128.67C from NZ128.25/65C.