Monday, June 25, 2007

Kiwi Uncertain Versus Other Majors, Monday, June 25, 2007 5:53:24 PM

The New Zealand dollar was uncertain with the major currencies on Monday in New York. The kiwi slipped slightly against the dollar and euro and was little changed with the pound. There was little economic news out of New Zealand on Monday.

The New Zealand dollar was down slightly amid choppy trading with the U.S. dollar on Monday in New York. The kiwi climbed as high as 0.7673 at around 9 a.m. ET and fell as low as 0.7635 at around 3:15 p.m. The pair traded at 0.7651 at 5 p.m. ET. Greenback traders considered a report from the National Association of Realtors released Monday that showed that existing home sales edged down 0.3 percent to an annual rate of 5.99 million units in May from an upwardly revised pace of 6.01 million in April.

The kiwi and euro were choppy on Monday in the U.S. The New Zealand currency climbed in the morning but moved lower in the afternoon. It bounced back in the late afternoon and was slightly below its overnight levels at 5 p.m. ET. Investors considered data showing that German consumer confidence was higher-than-expected in June.

The New Zealand dollar was uncertain with the British pound on Monday in New York. The kiwi slipped in the early morning, but gained sharply at around 7 a.m. ET. It added further gains until the late morning but then dropped again through the first few hours of the afternoon. The New Zealand currency rebounded in late afternoon trading and was near its overnight levels at 5:15 p.m. In general, the kiwi is trading near a two-week high.
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