Covid resurgence slaps down kiwi dollar, NZ shares

Mon, 21 Dec 2020

The New Zealand dollar dropped more than half a US cent and the local share market was sold off as a new round of covid lockdowns spooked investors around the world.The kiwi dollar fell to 70.94 US cents at 5pm in Wellington from 71.40 cents on Friday in New York and 71.30 cents last week.“The markets have been unsettled and this dose of risk-off is covid-related more than anything else,” said Mark Johnson, a private client adviser with OMF.The greenback was buoyed by US legislators reaching a deal on a US$900 billion covid stimulus...

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