NZ dollar grinds higher as money printing weakens greenback

Fri, 05 Jun 2020

The New Zealand dollar cranked higher still as the greenback continued to weaken, propelled by the sheer weight of money being printed in the United States. The kiwi was trading at 64.84 US cents at 5pm in Wellington from 64.17 cents at the same time yesterday, and looking set to end the week nearly 3 cents higher than last Friday's finish in New York at 62.06 cents. The day's high at 64.94 US cents was its highest level since Feb. 5. "It's got a rocket up its backside," said Mitchell McIntyre, a dealer at XE, adding that the Federal...

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