NZ dollar pares some overnight gains after weak business confidence, tipped to rally

Thu, 29 Nov 2018

By Rebecca Howard Nov. 29 (BusinessDesk) - The New Zealand dollar pared some of its overnight gains against the greenback after a monthly survey showed that business confidence remained weak in November but the local currency is expected to resume its rally. The kiwi traded at 68.55 US cents at 5pm in Wellington from 68.77 US cents at 8am and from 67.94 cents yesterday. The trade-weighted index rose to 74.66 from 74.37 yesterday. The New Zealand dollar got a lift overnight when US Federal Reserve chair Jerome Powell said the US polic...

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