NZ dollar holds above 69 US cents as budget shows fiscal discipline

Thu, 17 May 2018

By Rebecca Howard May 17 (BusinessDesk) - The New Zealand dollar held above 69 US cents after Finance Minister Grant Robertson continued to project fiscal surpluses and a gradual reduction in debt in the government's first budget. The kiwi rose to 69.05 US cents as at 5pm versus 68.96 US cents as at 8am in Wellington from 68.64 cents yesterday. The trade-weighted index rose to 72.30 from 72.01 yesterday. Robertson found an extra $24 billion to spend over the next four years by taking in more tax, reprioritising existing expenses, and...

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