Late Change NZD/USD 0.8127 +0.0086 NZD/AUD 0.7703 +0.0009 NZD/JPY 65.87 +0.90 April 2013 Bond 3.19 unchanged May 2021 Bond 5.00% +4.5 bps 10-Year U.S. Spread +198 bps -7.0 bps 90-Day Bank Bill 2.66% -1.0 bp WELLINGTON (Dow Jones)--The New Zealand dollar was trading higher late Wednesday after making strong gains late Tuesday following movement in the euro. The euro gained as the market remained optimistic a solution to Greece's sovereign debt crisis will be found. Greece's parliament is due to vote late Wednesday on a crucial austerity package, followed by a second vote Thursday on the implementing legislation. BNZ currency strategist Mike Burrowes said that until the vote was made the New Zealand dollar was expected to remain within a range of US$0.8080 to US$0.8150. "I suspect after the vote has gone through it might be a case of buy the rumor, sell the fact, and perhaps the euro will fall back a bit," said Burrowes, indicating this may weigh on the New Zealand dollar. On Thursday, the National Bank Business Confidence survey will be the focus locally. "We are looking for it to broadly maintain the levels from last month--obviously we've seen the currency move a bit higher and commodity prices pull back so perhaps it will be a bit softer," said Burrowes. The New Zealand government bond yield curve and the interest rate swap curve steepened following on from movement in the Australian market overnight, a local bond trader said. -By Lucy Craymer, Dow Jones Newswires; 64-4-471-5990; lucy.craymer@dowjones.com

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