NZ dollar gains on US rescue package euphoria

Fri, 27 Mar 2020

The New Zealand dollar made further gains, driven by Wall Street euphoria over the US government's US$2 trillion stimulus package, but futures pricing suggests US equity gains may be trimmed and the kiwi's with them. Two days into New Zealand's lockdown to try to prevent the spread of covid-19, the kiwi rose as high as 60.14 US cents. It was trading at 59.90 cents at 5pm in Wellington from 58.33 cents late yesterday and compared with 57 cents in New York last Friday. The trade-weighted index was at 68.44 from 67.68. "Equities markets are...

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