NZ dollar rally may stall as economic reality of pandemic sets in

Fri, 24 Jul 2020

The New Zealand dollar’s rally to a six-month high this week may be over as traders look to the looming recession that’s set to drag into next year. The kiwi traded at 66.24 US cents at 5pm in Wellington from 66.74 cents yesterday, trimming its likely gain for the week to 0.8 percent. The trade-weighted index was at 72.53 from 72.95 yesterday. The local currency tried to break above 67 US cents this week as relatively upbeat US corporate earnings and some promising trials of covid-19 vaccines gave investors optimism that the pandemic migh...

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