NZ dollar edges up; bets on stronger kiwi leave it vulnerable to correction

Sun, 25 Jun 2017

By Jonathan Underhill June 26 (BusinessDesk) - The New Zealand dollar edged up in New York trading on Friday as data emerged that showed traders have been increasing their bets on a strong kiwi, a situation that may actually leave the currency more vulnerable to a correction. The kiwi was trading at 72.80 US cents as at 8am in Wellington from 72.84 cents in New York on Friday and from 72.67 cents in Asia last week. The trade-weighted index was at 78.49, little changed from last week. US Commodity Futures Trading Commission data shows t...

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