NZ dollar extends gain as commodity currencies rally

Tue, 31 Dec 2019

The New Zealand dollar extended its recent gains as commodity currencies rallied on the prospect of a US-China trade deal next week and as year-end profit-taking saw the US dollar sold-off. The kiwi, already at a five-month high, was trading at 67.34 US cents at 1pm in Wellington, up from 67.11 cents late yesterday. The trade-weighted index rose to 73.64 from 73.44. “All the commodity currencies rallied” and the US dollar index is looking “quite heavy,” said Tim Kelleher, head of institutional foreign exchange sales at Commonwealth Bank o...

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