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MARKET CLOSE: Stimulus hopes push kiwi up, but shares fall

Dan Brunskill
Wed, 21 Oct 2020

Renewed optimism for fiscal stimulus in the United States being passed before the presidential election drove a rally in the kiwi dollar along with most other risk assets.The New Zealand share market did not benefit from the boost, partly due to the stronger kiwi dollar weighing down some exporters and electricity companies slipping.The kiwi dollar was trading at 66.08 US cents up from a low of 65.53 overnight and from 65.83 yesterday, as traders swapped the safe-haven US currency for higher risk assets.The trade-weighted index was at 70.86 at...

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