NZ dollar stalls as US-China deal awaited

By Jenny Ruth | Wed, 27 Nov 2019


The New Zealand dollar remained stalled amid increasingly positive signs the US and China will soon sign a preliminary trade deal and after Federal Reserve chair Jerome Powell made it clear further US interest rate cuts are unlikely. The kiwi was trading at 64.26 US cents at 5pm in Wellington from 64.26 cents at 8am while the trade-weighted index was at 71.25 points from 71.20. "Our currency's probably going to be marooned for a bit in tight ranges" until a US-China deal is actually signed, says Martin Rudings, an adviser at OMF. If th...