WELLINGTON (Dow Jones)--The New Zealand dollar was lower late Monday after failing to claw back from Friday's losses, which came on the back of further jitters about the strength of the global economic recovery. ANZ Foreign Exchange Manager Murray Hindley said the market was quiet and expected to remain that way due to the public holiday in the U.S. Monday. "Asian bourses are a little bit mixed, so I would expected it to remain in a relatively tight range," he said, adding the range was between US$0.6850 and US$0.6920. Selling by Japanese traders earlier Monday also helped dent the kiwi's rebound, Hindley said. The New Zealand dollar was up in Asian trade Friday, but later lost ground following the release of poor U.S. data and as commodity prices fell. "While some Asian buying was noted [Friday], the weight of risk off sentiment saw the New Zealand dollar eventually breach the US$0.6900 mark to close near its lows," said BNZ FX Strategist Mike Jones. New Zealand's private-sector business confidence survey for the second quarter is due out Tuesday and the market is expected to focus on this as an indicator of how global issues are affecting markets in New Zealand. Jones said he expected the data to be generally solid. "It will be particularly important, however, for testing the degree of GDP pick-up in second quarter and third quarter, as well as whether spare resources are being soaked up," he said. He added that Fonterra's Wednesday morning dairy auction would also be worth watching. New Zealand government bonds ended slightly lower at the short end, and unchanged at the long end as the weak government tender last Thursday continued to keep investors out of the market, said a local bond trader. He added there were more bonds offered than bid on Monday. New Zealand interest rate swaps ended marginally down. The trader said significant moves were not seen on the back of the weak U.S. jobs data as it had been partly expected. -By Lucy Craymer, Dow Jones Newswires; 64-4-471-5990; lucy.craymer@dowjones.com

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