NZ dollar pares overnight losses; UK election gets initial approval

NZ dollar pares overnight losses; UK election gets initial approval
Rebecca Howard
The New Zealand dollar pared its overnight losses after  UK Prime Minister Boris Johnson won preliminary approval for a Dec. 12 election. The kiwi was trading at 63.53 US cents at 8am in Wellington from 63.67 at 5pm. It had dipped to 63.37 cents overnight. The trade-weighted index was at 70.20 versus 70.37. Johnson’s bill for an early election was approved without a vote at its second reading on Tuesday, suggesting it has overwhelming support as it heads towards its final stage in parliament, Reuters reported. However, volatility is ex...

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