MARKET OPEN: Kiwi dollar's march higher to weigh on domestic trading

Tue, 01 Sep 2020

The high kiwi dollar will weigh on local exporters while a mixed night on Wall Street will also cap investor enthusiasm. The New Zealand dollar was trading at 67.39 US cents at 8am in Wellington versus 67.22 cents at 5pm yesterday as the greenback remains on the soft side, BNZ senior market strategist Jason Wong said. Yesterday, exporter Fisher & Paykel Healthcare shares declined 2.2 percent to $36.85 while A2 Milk sank 3.7 percent to $18.59. “The Fed’s super-dovish policy stance is more than offsetting the RBNZ’s super-dovish policy...

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