NZ shares, kiwi push higher in light holiday trading

Kiwi benefiting from tight liquidity. (Image: Deposit Photos)

Thu, 30 Dec 2021

The New Zealand dollar and the local stock market pushed higher in light trading on the second to last trading day for 2021. The kiwi rose to 68.44 US cents at 5pm in Wellington from 68.11 cents at 5pm on Wednesday.Short positioning is quite large in some currencies – such as the kiwi – “so the path of least resistance is probably higher given lack of flow and volumes,” said Tim Kelleher, head of institutional foreign exchange sales at Commonwealth Bank of Australia.The kiwi is benefiting from some general profit-ta...

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