Dip in kiwi to help exporters but won't last

Mon, 07 Dec 2020

The slightly weaker kiwi dollar will bring some relief for exporters but it is unlikely to last.The kiwi was trading at 70.47 US cents at 8am in Wellington versus 70.55 cents late Friday. It briefly broke through 71 US cents late last week. Overall markets remain “bullish Kiwi” with data showing speculators remain net-long “so it’s natural to expect some profit-taking on rallies,” said ANZ Bank. Investors take a net-long position when they buy and hold a security for the long term, betting it will increase in...

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