Risk aversion clips New Zealand dollar's wings

(Image: Getty)

Wed, 02 Oct 2024

The New Zealand dollar lost ground overnight as tensions rose in the Middle East.The kiwi was trading at 62.99 US cents at 8am in Wellington versus 63.70 US cents late Tuesday in Wellington. “Geopolitical factors have outweighed economic data releases in their market impact overnight,” said BNZ bank senior markets strategist Jason Wong.Iran launched a missile attack against Israel, leading to much higher oil prices, lower equities and lower rates. Oil prices rose nearly 5%. Just after 5.30am NZ time, Israel’s Defence...

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