NZ dollar, swaps tumble as Brexit confounds pollsters; central banks likely to act

Fri, 24 Jun 2016

By Jonathan Underhill June 24 (BusinessDesk) - The New Zealand dollar tumbled more than 3 US cents, or 4.4 percent, and swap rates dropped as the UK voted to leave the European Union, confounding the predictions of bookmakers and pollsters. The kiwi dollar fell to 69.84 US cents at 5pm in Wellington, from as high as 73 cents when voting closed this morning at 9am NZ time and down from 71.80 cents late yesterday. The local dollar surged as high as 52.88 British pence, the highest in almost three years, and was recently at 52.21 pence, fro...

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