The New Zealand Dollar was little changed today against the US dollar and weaker against other currencies as the US dollar edged off recent highs.
By 5pm today the kiwi was buying US71.32c, down from US71.52c at 5pm yesterday, and little changed from US71.28c at 8am, having climbed during the past week from its lowest level in nearly a year around US68.25c.
ANZ bank today said the NZ dollar had struggled to surmount a raft of sellers at the US71.50c-plus level, and looked likely to be capped around that level.
"Despite repeated attempts to take out the topside yesterday, the NZD ran out of puff," ANZ said.
The US dollar edged down on Thursday on persistent worries about US mortgage lenders and that took any pressure off the New Zealand dollar.
The kiwi edged down against other currencies, and by the local close was buying 0.4828 EURO from 0.4842 at 5pm yesterday.
Against the yen the kiwi slipped to 78.17 from 78.54, while against the Australian dollar it was down to A81.76c from A81.95c. The trade weighted index was 66.34 at 5pm from 66.52.