NZ dollar rises on Brexit hopes, rate cut reassessment

NZ dollar rises on Brexit hopes, rate cut reassessment
Jenny Ruth
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...

More Markets

Fast-food chain float could give Fonterra a steer
Finance

Brian Robins: Fast-food chain float could give Fonterra a steer

After a dearth of IPOs, all eyes are on Guzman y Gomez. 

NZ shares fall on economic fears
Markets Market close

NZ shares fall on economic fears

The S&P/NZX 50 index dropped 96.21 points, or 0.8%, to 11,671.19.

Paul McBeth 19 Jun 2024
Carbon auction gets zero bids
Markets

Carbon auction gets zero bids

There was no interest in the 4 million units on offer.

Ian Llewellyn 19 Jun 2024
$2.2m spent, no takeover for Rakon
Markets

$2.2m spent, no takeover for Rakon

Chip-maker fumbled the bag, research analyst says.