NZ shares and dollar climb as ‘sanity’ returns to market

The kiwi dollar made a small recovery today, climbing back to 69.77 US cents by 3pm in Wellington from 69.52 cents yesterday.(Image: Deposit Photos)

Dan Brunskill

Tue, 22 Jun 2021

The New Zealand share market and dollar both posted modest gains as investors came to terms with the possibility US central bankers may begin to tighten monetary policy. The S&P/NZX 50 Index rose 23.31 points, or 0.2%, to 12,522.67. The majority of stocks rose and turnover was $189.4 million. BNZ’s Jason Wong said a “modicum of sanity” had returned after investors had strong reactions to the US Federal Reserve’s suggestion it may raise interest rates and taper bond purchases sooner than expected – alb...

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