NZ dollar rises on US dollar weakness

Fri, 31 Jul 2020

The New Zealand dollar resumed its upward march after data showed the US economy contracted an annualised 32.9 percent in the June quarter and the US dollar fell to its lowest level since May 2018 against a basket of major currencies. The kiwi was trading at 67.05 US cents at 5pm in Wellington from 66.44 cents at the same time yesterday and well up on last week's close in New York at 65.79 cents. The trade-weighted index was at 72.57 from 72.23. "It's just a continuation of a weak US dollar – all the major currencies gained overnight and...

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