News | Business
21 Jan 2018 17:58
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Days of Xmas
  • News
  • Sport
  • Weather
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Business

    NZ dollar falls amid North Korea tensions

    A war of words between the US and North Korea has sapped risk appetite among money traders and sent the Kiwi dollar falling.

    11 August 2017

    The New Zealand dollar has fallen as the war of words between the US and North Korea sapped risk appetite and stoked so-called safe-haven currencies such as the yen.

    The kiwi fell to US72.80c as at 8:30am in Wellington from US73.09c late on Thursday.

    The kiwi was trading at 79.44 yen from 80.44 yen.

    North Korea has said it plans to fire missiles beyond Japan to the waters around the US territory of Guam in what may be retaliation for US President Donald Trump's off-the-cuff threat that the renegade state would face American "fire and fury".

    There was no lasting impact from the Reserve Bank's statement on Thursday, which kept its projections broadly unchanged.

    "The 'risk off' mood continues to dominate markets, with equities declining, US Treasury bond yields falling, and JPY and gold appreciating," ANZ Bank New Zealand senior rates strategist David Croy said.

    In New Zealand on Friday, traders will be watching for the July manufacturing PMI report and food prices for July but globally, the big event will be US inflation for July, which is expected to have picked up to 0.2 per cent from zero the previous month.

    Helping sharpen the focus on the US consumer price index figures, New York Federal Reserve President Bill Dudley said he expects inflation to pick up in coming months.

    The market is currently putting odds of 40 per cent on the Fed hiking US interest rates for the third time this year, Mr Croy said.

    The trade-weighted index fell to 76.67 from 77.11 on Thursday.

    The kiwi fell to 4.8376 yuan from 4.8758 yuan, declined to 61.77 euro cents from 62.28 euro cents and dropped to 56.05 British pence from 56.26 pence.

    The kiwi fell to A92.33c from A92.77c.


    © 2018 NZN, NZCity

     Other Business News
     21 Jan: Auckland commuters face motorway closure
     21 Jan: Iwis secure $370m in extra Treaty payments
     20 Jan: Business booming for Indonesia's 'sharia motorbike taxis'
     20 Jan: Dotcom suing NZ govt for 'billions'
     20 Jan: Inflation data not expected to surprise
     20 Jan: Partners sought for Northcote Development
     20 Jan: Genetics and breeding experts coming to NZ
     Top Stories

    Liam Messam signs for Toulon More...

    Auckland commuters face motorway closure More...

     Today's News

    Belgium win Four Nations, Black Sticks 3rd 16:46

    Sodhi keen to impress in Black Caps T20s 16:46

    Prime Minister discusses 100-day plan 16:16

    The Korean War, families divided and an Australian Olympian... one hell of a bedtime story 16:06

    Govt tree target a 'mirage': opposition 15:06

    Donald Trump's top 10 moments from year one in the White House 14:46

    Adams stars in OKC's NBA romp over Cavs 14:36

    Henare down on himself after Breakers loss 13:56

    Fox, Lee slip back in men's golf events 13:06

    Law and Order:
    Man hurt in Christchurch assault: police 12:56

     News Search

    Power Search

    © 2018 New Zealand City Ltd