NZ dollar climbs above 65 US cts as Chinese central bank supports yuan

Sun, 28 Oct 2018

By Paul McBeth Oct. 29 (BusinessDesk) - The New Zealand dollar rose back above 65 US cents on speculation the People's Bank of China is prepared to intervene in currency markets to support the yuan. The kiwi traded at 65.16 US cents as at 8am in Wellington, from 65.09 cents on Friday in New York and up from 64.79 cents in Asia last week. The trade-weighted index was at 71.59 from 71.48 last week. The New Zealand and Australian dollars turned around earlier losses late last week on speculation China's central bank intervened when the...

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