UNEXPECTED rise on US jobless claim for week ended Feb 13 saw the greenback dip against Japanese yen and other major currencies late last week.
A weak US dollar saw a weaker kina too.
Coupled with decline on kina-US$, kina-Aussie dollar cross slipped by 0.9%.
All eyes are now on US economic reports for December quarter gross domestic product (GDP), consumer sentiment for February and existing home sales for January, all scheduled for release shortly.
A strong data should be positive for the greenback and is also supportive to kina crosses.
But, there is a downside risk to kina-Aussie cross as markets expect interest rate rise in Australia in the coming month.
In the interbank market, the kina-US dollar exchange rate declined by 0.1% this week due to the same story from the previous week – slow US dollar inflows and strong import demand.
The Central bank provided some support to assist with import requirements.