NZ dollar firms after government's "wellbeing" budget

Thu, 30 May 2019

By Jenny Ruth May 30 (BusinessDesk) - The New Zealand dollar rose a little after the Labour-led government’s “wellbeing” budget forecast fiscal surpluses will be smaller as spending ramps up. The kiwi was trading at 65.24 US cents at 5pm in Wellington from 65.11 at 7:50am. The trade-weighted index was at 71.98 points from 71.90. “All up, the Treasury’s budget update forecasts show the government’s books are expected to remain in good shape over the next four years,” ANZ Bank economists say. “Government spending has been bumped up on...

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