You are using an older browser version. Please use a supported version for the best MSN experience.

NZ dollar static ahead of US jobs data

NZ NewswireNZ Newswire 6 days ago Jonathan Underhill
© Getty Images

The New Zealand dollar was little changed against the greenback ahead of US non-farm payrolls data, with a hike from the Federal Reserve later this month fully priced in, and it fell against the pound after comments from Britain's Brexit secretary.

The kiwi dollar traded at 70.72 US cents as at 8.30am in Wellington, from 70.81 cents on Thursday. The local currency fell to 56.22 British pence from 56.56 pence.

The US economy added 180,000 jobs last month, figures due on Friday in the US are expected to show, up from 161,000 a month earlier, keeping intact expectations for a December 14 rate hike.

The US dollar index, driven to 16-year highs on speculation President-elect Donald Trump's policies will stoke US economic growth and inflation, fell as the greenback slipped against the pound.

The faill came after Britain's Brexit secretary David Davis said the nation would consider making ongoing payments to the European Union to secure favourable market access.

'Non-farm payrolls is the big event but the kiwi isn't going anywhere," said ASB's Tim Kelleher.

He said gains in the pound were likely exaggerated because the market has massive short positions in sterling.

The local currency declined to 66.48 euro cents from 66.83 cents after Reuters reported that the European Central Bank planned to extend its bond purchases beyond March and may send a message at its policy meeting next week that the stimulus measures would end eventually.

The trade-weighted index slipped to 77.85 from 78.04.

The kiwi fell to 95.37 Australian cents from 95.67 cents, declined to 4.8711 yuan from 4.8837 yuan and traded at 80.75 yen from 80.86 yen.

image beaconimage beaconimage beacon