Kiwi dollar defies the odds as markets price a hefty rate cut

The dollar is flying high. (Image: Deposit Photos)

Thu, 26 Sep 2024

The New Zealand dollar continues to defy the odds despite the possibility of a 50-basis point rate cut next month. The kiwi was trading at 63.42 US cents late Wednesday in Wellington, up just under 2% this week, after getting a boost from China’s economic stimulus package and a weaker greenback.The next level of resistance is the December 2023 high of 63.69 US cents, followed by the 64.10 US cents it touched in October last year. The NZ dollar was largely steady against the Australian dollar, trading at 91.92 Australian cents la...

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