New Zealand dollar remains range-bound

The New Zealand dollar remained within familiar ranges yesterday, as it garnered some support from improved investor appetite and demand for higher yielding currencies over a possible better economic outlook. But further kiwi gains may be capped with the release of the RBA rate decision overnight and key local employment data released on Thursday. New Zealand's interest rate is now below Australia's and is likely to remain that way for some time following the RBA’s decision to keep rates on hold.