NZ dollar may be set to break out of its bearish trend

Fri, 06 Sep 2019

By Jenny Ruth Sept. 6 (BusinessDesk) - The New Zealand dollar is holding its recent gains and may break out of its bearish trend by the market close in New York. The kiwi was trading at 63.82 US cents at 5pm in Wellington from 63.76 cents at 7:55 am. It is up significantly from the week’s low at 62.67 cents and is headed for a 1.2 percent gain since Friday's close in New York. The trade-weighted index was at 71.10 points from 71.03. “We’ve had six consecutive down weeks – this could be quite a key reversal indicator” if the kiwi manage...

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