NZ dollar hits a ceiling as sentiment in equities markets starts to sour

Wed, 15 Apr 2020

The New Zealand dollar was weaker after failing to break through a strong resistance level and as sentiment in US equities markets soured. The kiwi was trading at 60.66 US cents at 5pm in Wellington from 61.20 at the same time yesterday while the trade-weighted index was at 68.58 from 69.22. "It's had a number of attempts to rally past 61.15/61.40, but there's quite a lot of resistance at 62" US cents, said Tim Kelleher, head of foreign exchange sales at Commonwealth Bank of Australia. "The last time we were back here was in March – it...

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