By Lucy Craymer WELLINGTON--The New Zealand dollar was little changed Tuesday, with markets quiet following a holiday in the U.S. and the U.K. Monday. Western Union Business Solutions Corporate Dealing Manager Chris Hunter said markets have been trading sideways, with direction likely to come from the U.K. and the U.S. overnight. At 0426 GMT, the New Zealand dollar was trading unchanged at US$0.8086, while it was at A$0.8387, slightly lower from Monday when its was trading at A$0.8395. The local focus is on first-quarter terms of trade data, expected Thursday. The median from a Wall Street Journal poll of 10 economists expects terms of trade--or the difference between export revenues and import expenditure--to be up 1.5% from the previous quarter but down 5.6% from a year earlier. Later Thursday, the Reserve Bank of New Zealand is set to release data on foreign currency assets, liabilities and currency flows. The data, often ignored by the market, are now keenly awaited after Governor Graeme Wheeler admitted that the central bank had intervened but refused to confirm the extent of the intervention. New Zealand government bonds due April 2015 rose 4.5 basis points to 2.555% while April 2023 bonds were up 3.5 basis points at 3.495%. A local trader said the New Zealand government bond market saw prices fall after a selloff in the Australian market. Write to Lucy Craymer at lucy.craymer@wsj.com

Source