NZ dollar rebounds after PBOC stimulus moves

Wed, 05 Feb 2020

The New Zealand dollar rebounded after China's central bank demonstrated its willingness to prop up its banking system to the tune of 1.7 trillion yuan on Monday and Tuesday and by cutting interest rates, helping to calm global markets which had been plunging in the wake of the coronavirus crisis. The kiwi was trading at 64.81 US cents at 5pm in Wellington, having earlier briefly broken through the 65 mark, from 64.61 at the same time yesterday while the trade-weighted index rose to 71.82 points from 71.58. The People's Bank of China said...

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