NZ dollar holds up as Joyce's maiden budget meets expectations

Thu, 25 May 2017

By Paul McBeth May 25 (BusinessDesk) - The New Zealand dollar held above 70 US cents as Finance Minister Steven Joyce's maiden budget met investors' expectations in affirming a strong economic outlook, allowing tax adjustments and a hike in infrastructure spending. The kiwi traded at 70.41 US cents at 5pm in Wellington from 70.43 cents at 8am, up from 69.94 cents yesterday. The trade-weighted index advanced to 75.98 from 75.79 yesterday. The Treasury's latest forecasts predict New Zealand's economic growth will peak in 2019 at an ann...

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