NZ dollar falls below 69 US cents as Italy remains in focus, stability report looms

Tue, 29 May 2018

By Jonathan Underhill May 30 (BusinessDesk) - The New Zealand dollar fell below 69 US cents and dropped against the yen as Italy's political hiatus sent Italian bond yields soaring and prompted investors to look for safe havens. The kiwi dollar dropped to 68.99 US cents as at 8am in Wellington from 69.33 cents late yesterday. It fell to 74.99 yen from 75.61 yen yesterday. The yield on Italian 2-year bonds soared 180 basis points due to ongoing political turmoil in Italy, in particular, concerns about what a new round of Italian electio...

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