Listed exporters hurting from sky high kiwi

Thu, 03 Dec 2020

With the kiwi dollar sitting comfortably at 30-month highs and flirting with a break above 71 US cents investors today sold their holdings in exporters drawing revenue from the United States.Fisher & Paykel Healthcare led the market lower, dropping 3.8 percent to $33.64, as the strong exchange rate eats into its margins. The kiwi dollar was trading at 70.67 US cents at 5pm in Wellington, down slightly from 70.72 cents yesterday after climbing as high as 70.85 cents overnight. The medical device exporter was likely further slowed...

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