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NZ dollar slightly firmer as tsunami threat abates

Published: 29 Sep 2009 16:32:18 PST

WELLINGTON, Sept 30 - The New Zealand dollar <NZD=> pushed higher against the U.S. dollar on Wednesday, as the threat of damage from a tsunami faded.

* Kiwi gains about a quarter of a cent on opening levels, but still below late local levels seen on Tuesday, as equity markets and risk appetite weaken.

* A tsunami warning for New Zealand downgraded to alert, after a powerful 8.0 magnitude earthquake rocked Samoa, causing widespread damage and some deaths. For more see [nWLF004393] [nN29161986]

* U.S. dollar regains some ground against the yen <JPY=>, after earlier sliding to an eight-month low, after Japan's finance minister said the government might take action if currency moves were irregular. [ID:nT324421]

* Local focus on National Bank business confidence survey due at 3 p.m. (0200 GMT), for further evidence of recovery in NZ economy.

* Kiwi struggles against the Aussie <NZDAUD=R> as markets price in an Australian rate rise any time from November.

* NZ dollar firms against the euro <NZDEUR=R> and the yen <NZDJPY=R>, sending the trade-weighted index higher.

* NZ dollar seen supported around $0.7110, and facing resistance at $0.7200 in the near term.

* NZ debt steady, as mixed U.S. economic data favoured U.S. Treasuries long bonds. -------------(30 September 2009 13:13 / 13 GMT)-------------

(Last prices as at 6pm NZ time the previous day) 90-DAY LIVE 2.81 (2.80) NOV-2011 4.100 (4.100) 90-DAY (DEC) 97.12 (97.13) APR-2013 4.945 (4.920) 90-DAY (MAR) 96.75 (96.77) DEC-2017 5.600 (5.600) 90-DAY (JUN) 96.14 (96.18) MAY-2021 5.940 (5.940) RBNZ MCI 256 (274) US 10YR BOND 3.298 (3.302) NZD TWI 65.34 (65.59) AU 10YR BOND 5.365 (5.298) NZD/USD 0.7164(0.7204) NZ/US 10YR SPD +230bp(+230bp) NZD/AUD 0.8198(0.8228) NZ/AU 10YR SPD +23bp (+30bp) NZD/EUR 0.4911(0.4922) NZ 2YR SWAP 4.285 (4.220) NZD/JPY 64.73 (64.76) NZ 5YR SWAP 5.480 (5.410) --------------------------------------------------------------- - ( --------------------------------------------------------------- - ((Wellington newsroom tel 64 4 471 4234, fax +64 4 4736 212, wellington.newsroom@reuters.com