NZ dollar holds gains as the start of US-China trade sanctions weigh on greenback

Sun, 08 Jul 2018

By Paul McBeth July 9 (BusinessDesk) - The New Zealand dollar held on to its gains of late last week as trade sanctions kicked in between the world's two biggest economies, the US and China, sapping demand for the greenback. The kiwi traded at 68.32 US cents as at 8.15am in Wellington from 68.39 cents on Friday in New York, and up from 68.03 cents in Asia. The trade-weighted index was at 72.91 from 72.74 last week. The trade stoush between the US and China ratcheted up a notch on Friday with Asia's biggest economy retaliating immedia...

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