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DJ New Zealand Dollar Rangebound On Holiday Trading
December 24, 2013

By Lucy Craymer WELLINGTON--The New Zealand dollar moved sideways on Tuesday as markets were hit by low liquidity caused by the onset of the holiday season both locally and abroad. The New Zealand dollar has remained very quiet over the past 24-hours trading in just a 25 basis point range, said ANZ in a note. In late trading in Wellington the unit was at US$0.8193 from US$0.8194 late on Monday. Against the Australian dollar it was at A$0.9177 from A$0.9180. OM Financial client advisor Stuart Ive said the tight range was partly due to consolidation in the currency markets following the U.S. Federal Reserve announcing its plans to taper bond buying in January and the IMF saying it will raise U.S. growth forecasts. U.S. Durable goods and new homes sales data are due out overnight and a likely to be then next driver of currency in the market. Mr. Ive said as investors continued to search for clues on the U.S. economy data was being closely watched for any softness in the economy. Write to Lucy Craymer at lucy.craymer@wsj.com