News | Business
26 Jun 2017 3:33
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • News
  • Sport
  • Weather
  • Olympic Games
  • Ski Report
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Business

    Dollar unwinds some gains against Aussie

    The kiwi unwound Thursday's gains against the Australian dollar but still ended the week higher.

    21 April 2017

    The New Zealand dollar unwound Thursday's gains against the Australian dollar but still ended the week higher, despite improving iron ore prices giving the Aussie a boost.

    The kiwi was trading at A92.97c at 5pm from 93.70c Thursday and 92.28c late Friday a week ago in New York.

    Against the greenback, it fell over the week to US70.01c from 69.97c.

    The kiwi gained strongly on Thursday against both the Aussie and the greenback on news that consumer prices rose at their fastest annual pace since the September 2011 quarter in the first three months of 2017.

    This solidified market expectations the central bank will lift rates sooner than it's forecasting.

    Market pricing Friday continued to point to a rate hike next March, well ahead of the RBNZ's forecast mid-2019.

    The kiwi opened weaker after Dallas Federal Reserve president Robert Kaplan affirmed his view that the US central bank will lift rates another two times this year, stoking demand for the greenback.

    Mark Johnson, a senior foreign exchange dealer at OMF in Wellington, said iron ore "had a good bounce overnight, which gave the Aussie a lift and the bit of a rebound in the Aussie may have dragged us down a bit", although the kiwi was supported at A92.8c.

    Both the Aussie and the kiwi will likely be pushed around by French presidential election news this weekend, in particular after a shooting on the Champs-Elysees boulevard, in which one policeman was killed.

    Markets were cheered by polls that indicate centrist candidate Emmanuel Macron is set to come out on top in the first round of voting.

    The kiwi slipped to 65.34 euro cents from 65.58 cents and fell to 54.72 British pence from 54.93 pence. The kiwi eased to 76.48 yen from 76.65 yen and fell to 4.8166 from 4.8439 yuan.


    NZN




    © 2017 NZN, NZCity


     Other Business News
     25 Jun: Moeraki Boulders gets speed control
     25 Jun: Posties' union delivers NZ Post broadside
     25 Jun: Kiwifruit class action headed to court
     25 Jun: Call to track building materials
     23 Jun: Hammer attack on scrap metal worker
     23 Jun: NZ dollar steady, markets look to US data
     23 Jun: NZ shares fall after 'uneventful' week
     Top Stories

    RUGBY RUGBY
    Barrett has no qualms with NZ No.15 role More...


    BUSINESS BUSINESS
    Moeraki Boulders gets speed control More...



     Today's News

    Business:
    Moeraki Boulders gets speed control 21:57

    Rugby League:
    Cherry-Evans makes Origin statement 21:47

    Rugby:
    Barrett has no qualms with NZ No.15 role 18:57

    Rugby:
    Lions tactics likely to change: Hansen 18:37

    Living & Travel:
    Pakistan oil tanker fire kills more than 120 as onlookers rush to gather leaking fuel 18:27

    Rugby League:
    Dragons v Knights, Sharks v Sea Eagles: NRL round 16 live scores, stats and commentary 18:17

    Accident and Emergency:
    One killed in Otago plane crash 18:07

    Law and Order:
    Bay of Plenty fisherman dies 18:07

    Business:
    Posties' union delivers NZ Post broadside 17:27

    Entertainment:
    Gigi Hadid has posted a sweet birthday tribute to her brother Anwar 16:57


     News Search






    Power Search


    © 2017 New Zealand City Ltd