NZ dollar spikes then drops in illiquid market as UK results dribble in

Thu, 23 Jun 2016

By Jonathan Underhill June 24 (BusinessDesk) - The New Zealand dollar jumped to a 13-month high of 73 US cents before tumbling to 71.75 cents as traders reacted in an illiquid market to results trickling out from the UK's referendum on whether to leave the European Union. The kiwi dollar traded at 72.01 US cents as at 11:22am in Wellington from 71.80 cents late yesterday, and has traded in a range of 1.25 US cents since polling closed at 9am NZ time. The local currency surged as high as 50.08 British pence from 48.75 pence at 9am and was...

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