NZ dollar rises as greenback falters; covid spread shrugged off

Thu, 09 Jul 2020

The New Zealand dollar ground higher, driven mainly by US dollar weakness as global markets continue to shrug off continuing bad news of spreading covid-19 infections. The kiwi was trading at 65.83 US cents at 5pm in Wellington from 65.40 cents at the same time yesterday while the trade-weighted index was at 72.37 from 72.21. "We're just seeing broad US dollar weakness right across the board. It's not specific to the kiwi and the Aussie. It's more the absence of risk-off aversion," said Mitchell McIntyre, a dealer at XE. Even though th...

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