MARKET OPEN: Kiwi shrugging off spectre of negative rates

Thu, 15 Oct 2020

The New Zealand dollar will remain firm and exporters will be under some pressure as the market begins to pare back expectations the central bank will cut rates into negative territory. The kiwi was trading at 66.60 US cents at 7.45am, unchanged from 5pm yesterday and “was unperturbed by another dose of dovish talk by an RBNZ senior official,” said BNZ senior strategist Jason Wong.According to Bloomberg, assistant Reserve Bank governor Christian Hawkesby told a Citigroup conference in Sydney that while some data had surprised o...

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