NZX 50 hits record; kiwi dollar at 18-month high

Mon, 09 Nov 2020

The kiwi dollar climbed to an 18-month high and New Zealand’s benchmark equity index closed at a new record as risk assets rallied in the wake of the US election results.Financial markets have been on a tear since Americans voted. The currency was up 2.7 percent against its American counterpart, while the S&P/NZX 50 Index jumped 3.5 percent. Mike Shirley, a senior trader at Kiwibank, said investors were dumping the US dollar to chase yields in equities or riskier currencies. The kiwi dollar was trading at 68.13 US cents, it...

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