NZ dollar rises on Brexit hopes, rate cut reassessment

Fri, 18 Oct 2019

The New Zealand dollar rose with hopes that Britain and Europe may agree on a Brexit deal and after China confirmed it continues to work on a preliminary trade deal with the US.The local currency also outperformed as traders reassessed recent positive economic news and decided the Reserve Bank's next rate cut, expected in November, may be its last for a while.The kiwi was trading at 63.69 US cents at 5pm in Wellington from 63.47 cents at 7:50am. The trade-weighted index was at 70.52 points from 70.28.British Prime Minister Boris Johnson and Eur...

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