NZ dollar range-bound as trade optimism fades

Tue, 27 Aug 2019

By Rebecca Howard Aug. 28 (BusinessDesk) - The New Zealand dollar stuck to a right range as optimism for a US-China trade deal faded and the focus returned to a possible US recession. The kiwi was trading at 63.64 US cents at 7:55 am in Wellington from 63.65 cents at 5pm. The trade-weighted index was at 71.03 from 71.07. “The risk dial moved a bit more towards off overnight,” said Kiwibank FX trader Mike Shirley. Markets had been hopeful about a possible deal after US President Donald Trump said US trade officials received calls from...

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