NZ dollar falls amid heightened oil, coronavirus volatility

Mon, 09 Mar 2020

The New Zealand dollar fell sharply after a "flash crash" across currency markets, fuelled by plunging oil and equity markets amid heightened fear of the economic consequences of the coronavirus crisis. The kiwi was trading at 62.49 US cents at 5pm in Wellington, after falling as low as 60.27 cents shortly before 3pm, and down from its close in New York on Friday at 63.55 cents. The trade-weighted index was at 69.20 points from 70.04 at 5pm on Friday. "We've had some pretty extreme volatility," said Mitchell McIntyre, a dealer at XE, n...

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