NZ dollar edges higher amid bond market sell-off

Wed, 11 Sep 2019

By Jenny Ruth Sept. 11 (BusinessDesk) - The New Zealand dollar firmed as investors hurt by the recent global bond market sell-off sold profitable positions to cover losses elsewhere. The kiwi was trading at 64.30 US cents at 5pm in Wellington from 64.19 cents at 8am. The trade-weighted index rose to 71.41 points from 71.33. "A lot of stuff people have that's been in the money is being unwound," says Tim Kelleher, head of external foreign exchange sales at Commonwealth Bank of Australia. "That's because that bond market sell-off has bee...

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