NZ dollar falls as markets fret about Italy, boosting greenback

Wed, 03 Oct 2018

By Rebecca Howard Oct. 3 (BusinessDesk) - The New Zealand dollar fell against a stronger greenback as ongoing political uncertainty in Italy supported the world's reserve currency The kiwi traded at 65.73 US cents at 5pm versus 65.93 cents at 8am and down from 66.10 cents late yesterday. The trade-weighted index declined to 71.62 from 71.87. The local currency was put on the backfoot by Federal Reserve chairman Jerome Powell's upbeat assessment of the US economy and growing concerns about Italy's budget plan. Fears about Europe were he...

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