MARKET CLOSE: Kiwi falls on economic concern

Thu, 24 Sep 2020

The New Zealand dollar sank to its lowest level since late August as the greenback continued to attract buying amid a sustained equity sell-off on recessionary fears. Mike Shirley, a senior trader at Kiwibank, said the day’s broad negativity had been kicked off by reports Congress may go into recess as early as this week to campaign in the run up to the November election.“That would put the kybosh on any fiscal stimulus getting through in the near-term,” he said.The kiwi dollar was trading 65.29 US cents at 5pm in Wellin...

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