NZ dollar consolidates weekly gain of more than a US cent

Fri, 06 Dec 2019

The New Zealand dollar consolidated near a four-month high the past week as betting on another interest rate cut next year dwindled while the odds of a February cut by the Reserve Bank of Australia increased.The kiwi was trading at 65.55 US cents at 5pm in Wellington from 65.46 cents at 8am and from 64.20 cents in New York last Friday. The trade-weighted index was at 72.42 from 72.34."It's US dollar weakness, kiwi strength," said Martin Rudings a dealer at OMF, adding that the US dollar has weakened in each of the past seven trading days.L...

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