NZ dollar softens after weak Chinese PPI

Thu, 10 Jan 2019

By Jenny Ruth Jan. 10 (BusinessDesk) - The New Zealand dollar softened slightly after technical factors kept a cap on the upside and after weaker than expected producer pricing data in China. The New Zealand dollar eased to 67.87 US cents at 5pm in Wellington from 67.99 at 8.30am. The trade-weighted index fell to 73.29 points from 73.54. Anthony Murphy, a dealer at OMF, says when the kiwi reached above the 68 US cent mark, it triggered selling to unwind some speculative positions. However, improving sentiment limited the downside an...

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