NZ dollar rises after terms of trade approach record levels

Mon, 02 Dec 2019

The New Zealand dollar rose after the nation's terms of trade rose to their second highest level ever in the September quarter. The domestic currency's gains were buttressed by downbeat data in Australia on housing consents and job advertisements. The kiwi was trading at 64.46 US cents at 5pm in Wellington from 64.30 at 8am while the trade-weighted index was at 71.48 from 71.31. New Zealand's terms of trade, a measure showing the purchasing power of New Zealand's exports relative to imports, jumped 1.9 percent in the three months ended...

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