NZ dollar surges as trade war fears recede, more economies reopen

Fri, 08 May 2020

The New Zealand dollar surged a US cent as worries receded that US President Donald Trump was about to reignite trade wars with China and as more countries reopened their economies after covid-19 lockdowns. The kiwi was trading at 61.18 US cents at 5pm in Wellington from 60.15 cents at the same time yesterday and looks like ending the week well above last Friday's close in New York at 60.64 cents. The trade-weighted index was at 68.99 from 68.24 yesterday. Chinese news agency Xinhua has reported that top trade negotiators from the US and...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets

New structure, powers for ComCom

Groceries, aviation, building supplies, digital services carparking all get a mention.

Pattrick Smellie 10:28am

The Quiz Free

QuiznessDesk, Tuesday, Sept 16

Can you get them all correct without cheating?

The Quizmaster 9:15am

Technology

Lift-off: Victoria University’s Mission Hēki goes into orbit

The SpaceX rocket had a flawless launch from Cape Canaveral.

Greg Hurrell 5:00am

Lift-off: Victoria University’s Mission Hēki goes into orbit

Sponsored

Future leaders start by Dreaming Big

How OnBeingBold empowers Year 13 girls at free leadership events.

OnBeingBold

Sponsored

Free AI training blitz targets 10,000 Kiwis

Workshops aim to close NZ’s AI skills gap and boost productivity – no tech skills required.

Sponsored by Lumify

More Markets

Markets

New structure, powers for ComCom

Groceries, aviation, building supplies, digital services carparking all get a mention.

Pattrick Smellie 10:28am

Markets

NZME shareholder Jim Grenon lifts investment in media firm

NZME shareholder and director Jim Grenon has lifted his investment in the media business for the second time in recent weeks, to just under 18%.A notice to the NZX on Monday stated Grenon had lifted his shareholding from 15.963% to 17.932%, after acquiring 3.7 million shares for...

Staff reporters 9:10am