THE New Zealand dollar is little changed over the week as US policymakers continued to bicker over the federal budget and looming breach of the debt ceiling, leaving financial markets nervous about taking positions.
The kiwi dollar traded at 83.04 US cents at 5pm in Wellington from 83.14 cents at the start of the week. It traded at 82.88 cents at 8am on Friday and 82.58 cents on Thursday.
The trade-weighted index rose to 77.15 from 76.79 on Thursday and 76.87 at the open on Monday.
The US House of Representatives' failure to cut a deal on the federal budget has left government services shut down and threatens to prevent the nation's debt limit being lifted next week, potentially triggering unprecedented loan repayment defaults by the world's largest economy.
"A default would be a major risk aversion event, like Lehman Brothers - there's no way they would let it get to that," said Dan Bell, head of corporate sales at HiFX in Auckland.
"The kiwi has been around 83 US cents in a pretty quiet range this week, though it looks like there's more topside bias."
The NZ currency gained to 81.77 yen at 5pm in Wellington from 80.67 yen on Thursday on growing optimism a deal will be cut.
The kiwi dollar slipped to 87.65 Australian cents at 5pm in Wellington from 87.74 cents on Thursday ahead of a Chinese trade report on Saturday.
Australia is a bigger benefactor of Chinese trade through its mining exports than New Zealand is through agriculture.
The kiwi gained to 61.32 euro cents from 61.15 cents on Thursday.
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