NZ dollar set to miss out on Santa rally

The kiwi often gets a lift in December. (Image: Unsplash)

Wed, 04 Dec 2024

The New Zealand dollar’s usual December cheer looks to be in short supply as it struggles to remain over 59 US cents. At best, it is seen as consolidating.“The modest recovery in the NZD followed a steep decline of 9% from the end of September through to the trough just under 0.58 US cents,” BNZ senior markets strategist Jason Wong said.The kiwi took a tumble as investors flocked to the greenback in the wake of US President Donald Trump’s election victory and as the Reserve Bank of NZ (RBNZ) cut rates by another 50...

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