NZ dollar climbs above 69 US cents, seen 'oversold' on local political concerns

Mon, 27 Nov 2017

By Jonathan Underhill Nov. 28 (BusinessDesk) - The New Zealand dollar rose above 69 US cents for the first time in about a week on perceptions it has fallen too far on local political concerns after touching a 17-month low this month. The kiwi traded at 69.04 US cents as at 8am in Wellington and earlier reached 69.25 cents from 68.62 cents late yesterday. The trade-weighted index rose to 72.77 from 72.35. The New Zealand dollar fell as low as 67.75 US cents on Nov. 17 on weaker commodity prices, waning risk appetite and concerns govern...

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