MARKET CLOSE: Kiwi falls as Trump spikes stimulus deal

Wed, 07 Oct 2020

The New Zealand dollar fell almost 1 US cent after President Donald Trump threw cold water on the prospect of passing fiscal stimulus before the election, causing risk assets to fall.The kiwi dollar, which had been trading above 66.40 US cents, dropped as low as 65.76 around 8am as Trump announced he was directing Republicans to withdraw from negotiations for a pandemic fiscal relief bill. “Equities came off and we came off with them, after those Trump comments,” said Simon Greig, a treasury dealer at Forex.Greig said it was an...

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