Sharechat Logo

Kiwi holds ground ahead of interest rate announcements

Wednesday 26th January 2011

Text too small?

The New Zealand dollar was little changed today with a holiday in Australia reducing trading in this part of the world and major interest rate announcements due tomorrow.

The NZ dollar was at US76.66c at 5pm from US76.58c at 8am and US76.49c at 5pm yesterday.

It rose slightly in early morning trading when a late flurrying of buying erased earlier losses on Wall Street. This improved the appetite for risk.

But event risk remains with the Federal Reserve's open market committee due to make a statement at 8.15am New Zealand time tomorrow and the Reserve Bank of New Zealand due to pronounce on the official cash rate at 9am.

Dealers said it would be a double whammy for the market though the New Zealand central bank is expected to keep its rate unchanged at 3%.

The NZ dollar held its ground against a range of currencies today and against the Australian was at A76.90c at 5pm from A76.93c at the same time yesterday. It was at 0.5603 euro from 0.5602 euro yesterday and at 62.92 yen from 63.10 yen yesterday.

BNZ currency strategist Mike Jones said the "shockingly weak" British gross domestic product figures yesterday had reignited global growth concerns.

The trade weighted index was slightly higher at 68.33 from 68.20.



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto
19th October 2021 Morning Report
PGG Wrightson Limited (NZX: PGW) Guidance Update
Vital Limited (NZX: VTL) Provides Update on PSN LMR
18th October 2021 Morning Report
T&G Global Limited (NZX: TGG) FY21 Earnings Guidance Update
Arvida Group Limited (NZX: ARV) Successful Completion of $155m Placement
FreshLeaf: Cannabis on course to be 'medicine of the masses'