NZ dollar heads for 1% weekly gain as Italy fears subside; capped by global trade worries

Fri, 01 Jun 2018

By Rebecca Howard June 1 (BusinessDesk) - The New Zealand dollar is heading for a 1 percent weekly gain against the greenback, benefiting as fears of another Italian election receded, although concerns about global trade capped gains. The kiwi traded at 69.90 US cents as at 5pm in Wellington versus 69.98 cents at 8am and 69.84 cents late yesterday. It was at 69.16 US cents last Friday in New York. The trade-weighted index gained to 73.42 from 73.26 yesterday. The local currency got a boost when the leader of Italy's Five Star Movement...

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