Investors ignore weak GDP data

Thu, 18 Mar 2021

The kiwi dollar jumped more than half a cent after the US Federal Reserve held its policy settings, while the local equity market returned to its downward trend even though it seemed unfazed by weak GDP data. The New Zealand dollar was trading at 0.7160 pre-announcement and then shot through 72 cents. It was trading at 72.41 US cents at 5pm in Wellington, up from 71.82 cents yesterday.The trade-weighted index was at 75.33 at 5pm, from 75.00 yesterday. The kiwi traded at 92.56 Australian cents from 92.86 cents, 78.84 yen from 78.36 yen, 60...

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