Late Change NZD/USD 0.8330 +0.0061 NZD/AUD 0.7862 +0.0054 NZD/JPY 64.445 +0.55 April 2013 Bond 3.03% +1.5 bps May 2021 Bond 4.50% +6.5 bps 10-Year U.S. Spread +248 bps +7.0 bps 90-Day Bank Bill 2.96% +4.0 bps WELLINGTON (Dow Jones)--The New Zealand dollar was trading higher late Thursday, still benefiting after risk appetite improved overnight. BNZ FX Strategist Mike Burrowes noted that global risk appetite had improved as concerns over the European debt crisis eased, in particular, after a German court rejected a lawsuit to block the country's participation in euro-zone bailouts. "It (The New Zealand dollar) seems to be steady, looking firm and aiming higher... I think we are seeing a bit of a relief rally," said Western Union Business Solutions Corporate Dealing Manager Chris Hunter. Hunter noted that the local currency had largely overlooked news earlier Thursday that Australia's unemployment rate rose to its highest level in almost a year in August, which weighed on the Australian dollar. He said the kiwi would likely hold its ground or push higher ahead of the European Central Bank's policy meeting, U.S. President Barack Obama's jobs speech and a speech by Federal Reserve Chairman Ben Bernanke, all due later in the global day. He said Bernanke will be a key focus, especially after the Fed's Beige Book underscored weakness in the U.S. economy, but sparked hopes that the central bank would come to the rescue with more monetary stimulus. "He may put some hints out there as to what the discussion topics will be (at the next FOMC meeting) as the U.S. economy isn't growing at the rate needed," said Hunter. Government bonds ended down, with demand weak ahead of a government bond tender and tracking a move in Australia following the weak jobs data, a local bond trader said. Interest rate swaps were down on the short-end, but moved higher on the long-end, he said. -By Rebecca Howard, Dow Jones Newswires; 64-4-471-5990; rebecca.howard@dowjones.com

Source