Late Change NZD/USD 0.8350 +0.0020 NZD/AUD 0.7959 +0.0009 NZD/JPY 64.035 +0.005 April 2013 Bond 2.97% -4.0 bps May 2021 Bond 4.48% -4.0 bps 10-Year U.S. Spread +225 bps +4.0 bps 90-Day Bank Bill 2.92% -1.0 bp WELLINGTON (Dow Jones)--The New Zealand dollar was trading slightly higher late Wednesday but remained rangebound due to a dearth of local drivers. It is "just chopping within a range," said ANZ foreign-exchange manager Murray Hindley. He noted the recent range in the Kiwi has been US$0.7980 to US$0.8800 and "we are smack bang in the middle of it, so it's not really forcing a lot of corporate activity at these levels." He said the Kiwi dipped slightly when Statistics New Zealand reported that input prices for local producers continued to rise in the second quarter but were partially offset by higher output prices. Traders said the rise in input prices was slightly slower than expected and the data in general pointed to muted inflationary pressures. The Kiwi had also been under some pressure early in the session after New Zealand's Fonterra Co-Operative Group Ltd. said average whole-milk powder prices fell 2.2% during its Internet-based auction for Tuesday. Fonterra, which sells 40% of the world's traded dairy produce, is responsible for nearly a quarter of the country's merchandise exports, and its whole-milk powder auctions are closely watched by financial markets, particularly the foreign-exchange market. Hindley noted, however, that trading volumes remain low with very little fresh data to push activity. The market is now focused on U.S. producer price data later in the global trading day, followed by U.S. consumer price data later in the week. Hindley said support should hold around US$0.8310 in the short term, while resistance is at US$0.8380. Government bonds ended slightly higher, largely tracking offshore markets, a local bond trader said. -By Rebecca Howard, Dow Jones Newswires; 64-4-471-5990; rebecca.howard@dowjones.com

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