NZ dollar struggles to gain traction after banking review, weak commodity prices

Mon, 05 Nov 2018

By Rebecca Howard Nov. 5 (BusinessDesk) - The New Zealand dollar remained under pressure against the US dollar after a review found New Zealand banks need to improve the way they manage risks around misconduct and local data pointed to an ongoing fall in commodity prices. The kiwi traded at 66.37 US cents at 5pm in Wellington versus 66.36 US cents at 8am in Wellington and 66.52 at 5pm last Friday. The trade-weighted index was at 72.58 from 72.74. A review by the Reserve Bank of New Zealand and the Financial Markets Authority found none...

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