NZ dollar gains from 4-week low spurred by 'dovish' RBNZ as US stocks drop, volatility increases

Thu, 08 Feb 2018

By Jonathan Underhill Feb. 9 (BusinessDesk) - The New Zealand dollar gained from a four-week low reached yesterday in the wake of a Reserve Bank statement seen by some as dovish and traders expect more volatility as US stocks extend their decline and bond yields rose. The kiwi rose to 72.33 US cents as at 8am in Wellington from 71.90 cents late yesterday. The trade-weighted index advanced to 74.51 from 74.01. The Standard & Poor's 500 Index fell 1.3 percent, extending its slide of the past two weeks while the Chicago Board Options Exch...

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