Friday, May 25, 2007

New Zealand Dollar Mixed During Late New York Trading On Thursday, Friday, May 25, 2007 1:29:44 AM

The New Zealand dollar saw mixed trading during late New York hours on Thursday. The kiwi moved up against the euro and the dollar but it saw directionless trading versus the Australian dollar. Against the Japanese yen, the N.Z. dollar weakened amid the economic release from Japan, but the losses were reversed during late night trading.

Recent deals in major kiwi pairs took place amid a lack of data from the New Zealand economy. It was the release of the Japanese inflation data that marked the late night trading on the day.

During afternoon trading on Thursday, the N.Z. dollar weakened against the greenback, and the pair largely held its losses until gaining ground during late trading on the day. Rising from a range that limited between 0.7242 and 0.7255, the pair fetched 0.7265 at about 11:05 pm before changing its direction. Of late, the kiwi has been moving between 0.7252 and 0.7262 against its U.S. counterpart.

The New Zealand dollar gained ground against the euro at about 8:00 pm ET during late New York trading on Thursday. Falling from 1.8536, the pair equaled as low as 1.8480 at 10:45 pm ET. Thereafter, the kiwi moved sideways versus the common currency, ranging between 1.8479 and 1.8507.

The kiwi was choppy against its Australian counterpart during late New York trading on Thursday. The N.Z dollar weakened against the Aussie amid the Japanese release at 7:30 pm ET, but by about 10:15 pm, the pair moved in the opposite direction. The pair that largely moved between 1.1283 and 1.1309 during late hours has been ranging between 1.1288 and 1.1298, lately.

Amid the Japanese CPI data release at 7:30 pm ET, the kiwi weakened heavily versus the yen, and thus added to its losses suffered in afternoon trading. However, after hitting as low as 87.55 at about 9:20 pm, the pair moved in the opposite direction. As of 1:25 am ET on Friday, the pair was quoted at 87.985.
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