NZ dollar gains after China moves to boost liquidity

Sun, 08 Sep 2019

By Rebecca Howard Sept. 9 (BusinessDesk) - The New Zealand dollar gained after China's central bank on Friday said it would cut the amount of cash that banks are required to hold, freeing up liquidity for the economy. The kiwi was trading at 64.22 US cents at 7:45am in Wellington from 63.82 US cents at 5pm Friday in Wellington and 64.25 US cents late Friday in New York. The trade-weighted index was at 71.42 points from 71.44 Friday in New York. The People's Bank of China lowered the required reserve ratio for financial institutions by...

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