6 Oct 2014

Market and dollar little changed

6:57 pm on 6 October 2014

The New Zealand dollar is little changed today after seeing some volatility on the back of strong US economic data on Friday, pointing to a rise in interest rates there sooner than later.

The head of external foreign exchange sales at ASB Bank, Tim Kelleher, said the kiwi is more likely than not to continue to see some volatility.

At 5.20pm today, the dollar was trading at 77 US cents, 89.32 Australian cents, 48.6 British pence, 0.6204 euro, 85.12 yen and 4.77 renminbi.

The New Zealand sharemarket was little changed today. The benchmark Top 50 Index rose 4 points to 5241.

Forsyth Barr investment adviser Ryan Cutts said the market had little to give it direction, with a holiday in Australia keeping many market players away.

Summerset's share price rose 3 cents to $2.82, SLI's was up 1 cent to $1.15, while Vector was down 1 cent to $2.62.