News | Business
25 Sep 2017 17:24
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 little changed as next poll awaited

    The New Zealand dollar was little changed on Wednesday versus the greenback and the Australian dollar ahead of another election poll on Thursday.

    13 September 2017

    The New Zealand dollar was little changed on Wednesday versus the greenback and the Australian dollar ahead of the 1News Colmar Brunton poll on Thursday after jumping Tuesday when the Newshub-Reid Research poll showed National back in the lead.

    The kiwi dollar was trading at US72.87c as at 5pm in Wellington from 72.88c at the start of the day. The kiwi traded at A90.80cents from 90.24 cents before the poll yesterday.

    Thursday evening's Colmar Brunton poll will be keenly watched because it was the same poll last week that surprised markets by putting Labour ahead on 43 per cent to National's 39 per cent.

    Tuesday's Reid Research poll reversed the rankings, putting National on 47.3 per cent to Labour's 37.8 per cent.

    The New Zealand dollar has fallen about 5 per cent against the Australian dollar since Jacinda Adern replaced Andrew Little as Labour leader on August 1 although traders say the cross-rate had already found strong support at around A89.70c from exporters and market participants exiting short positions on the cross rate (ie betting the Aussie would rise vs the kiwi).

    "We've travelled a long way down on this cross (rate) only for political reasons and there's a point where enough's enough," said Martin Rudings, a senior dealer at OMF.

    "Orders were absorbing the trades and then we had a poll with National ahead and boom. There's a chance we've put a bottom in place in the short term," he said.

    The kiwi didn't move much on Wednesday after figures showed the food price index rose 0.2 per cent in August as butter hit a record high of $5.39 per block.

    The kiwi rose to 80.26 yen from 79.01 yen. It gained to 60.81 euro cents from 60.43 cents and rose to 4.7543 yuan from 4.7272 yuan. It traded at 54.76 British pence from 54.83 pence.


    NZN




    © 2017 NZN, NZCity


     Other Business News
     25 Sep: Reserve Bank expected to hold rate
     25 Sep: Bali volcano: Evacuations continue as tremors suggest Mount Agung eruption imminent
     25 Sep: Abano buys three new dental practices
     25 Sep: Synlait goes to Palmy for R&D centre
     25 Sep: Fonterra profit falls 11 per cent for year
     25 Sep: Fletcher hires KPMG for building review
     24 Sep: Rally expected on NZ markets post-election
     Top Stories

    RUGBY RUGBY
    Canterbury boss to join Highlanders More...


    BUSINESS BUSINESS
    Reserve Bank expected to hold rate More...



     Today's News

    Entertainment:
    Victoria Beckham hasn't "stopped crying" since her son moved to New York City 16:59

    Law and Order:
    Drugs and fake money in burnt body trial 16:57

    Golf:
    Kang lauds Ko ahead of NZ Women's Open 16:57

    Entertainment:
    Jay-Z hopes Chester Bennington's death is a "wake up call" to those who think fame and money can provide happiness 16:29

    Business:
    Reserve Bank expected to hold rate 16:17

    Politics:
    Ardern puts her negotiating team together 16:07

    International:
    Killer whales wow spectators at Lofoten Masters surfing competition in Norway 16:07

    Entertainment:
    Ryan Seacrest has suggested Mariah Carey was to blame for her disastrous New Year's Eve televised performance 15:59

    Entertainment:
    Stellan Skarsgard insists Shia LaBeouf's bad boy reputation shouldn't "cast any shadow over him as an artist" 15:29

    Law and Order:
    Elderly man arrested for indecent assault 15:27


     News Search






    Power Search


    © 2017 New Zealand City Ltd