NZ dollar rises on end-of-quarter book-squaring

Jenny Ruth
Wed, 01 Jul 2020

The New Zealand dollar rose offshore overnight on end-of-month-and-quarter book-squaring and then traded sideways through the domestic session. But the market remains torn between fears about covid-19's spread, particularly in the United States, and optimism about recovering economic activity. The kiwi was trading at 64.42 US cents at 5pm in Wellington from 64.21 cents at the same time yesterday. The trade-weighted index was at 71.41 from 71.20. "It was month-end and quarter-end last night for a lot of banks. There was reasonable deman...

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