NZ dollar range-bound in quiet tradiing

Reported by AAP
Friday, November 23, 2012

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The New Zealand dollar kept within its recent range in quiet trading with US markets closed for the Thanksgiving Day holiday.

The kiwi dollar slipped to 81.46 US cents from 81.55 cents at 5pm in Wellington on Thursday. The trade-weighted index fell to 73.21 from 73.30.

China's HSBC managers' index indicated industrial production is growing this month, with a preliminary reading of 50.4.

That marked the first expansion in 13 months and helped bolster hopes that the world's second-largest economy might be in better shape than feared.

"There was little to drive market direction as market activity remained light during the US Thanksgiving holiday," said Kymberly Martin, market strategist at bank of New Zealand.

"Generally sentiment was fairly stable, assisted by the benign China PMI reading."

The kiwi dollar slipped to 63.30 euro cents from 63.50 cents on Thursday. It was little changed at 78.47 Australian cents and slipped to 67.16 yen from 67.21 yen.

02/08/2014 08:26Sydney, Australia. 2 August,2014
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