$NZ unchanged
PA Wellington The New Zealand dollar closed unchanged yesterday from its open of U561.50/60c in what dealers described as extremely dull and quiet trading. Overnight New York trade saw it trade through the 61.40 c resistance level and the currency lifted to a high of U 561.80 before slipping down to a low of 61.30 c. Dealers said there was a definite lack of selling interest and predicted possible highs for the New Zealand dollar of US65c or US66c. “All the currencies are quiet ahead of the Group of Seven (G-7) meeting this week-end. No-one wants to take any positions until the United States dollar shows
where it’s heading,” a dealer said. The Reserve Bank trade weighted index closed at 61.2, unchanged all day and against its 61.8 close on Thursday. On cross rates the New Zealand dollar was worth Aust7B.24c, 1.1545 deutsche marks, 36.88 pence, 82.861 yen and .9753 Swiss francs. Making a small recovery at noon in Sydney, the Australian currency was at U 578.60/ 67c from an opening at 78.57 and Thursday evening’s close of U578.34/39C. In morning Hong Kong trade, the U.S. dollar was at 1.8767/77 marks against its 1.8770/75 open, and held steady at 134.60/70 yen.
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Press, 24 September 1988, Page 32
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203$NZ unchanged Press, 24 September 1988, Page 32
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