News | Business
30 Apr 2017 11:26
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Olympic Games
  • Finance
  • 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

    NZ dollar hits high after Trump conference

    The New Zealand dollar has reached a month high after US President-elect Donald Trump's first official press conference.


    The New Zealand dollar hit a month-high as investors were disappointed US president-elect Donald Trump didn't provide much detail on his spending programme in his first press conference, prompting a sell-off in the greenback.

    The kiwi rose as high as US70.87 cents, trading at US70.60c as at 8am in Wellington from 69.97 cents yesterday. The trade-weighted index advanced to 77.88 from 77.45.

    The US dollar index, a measure of the greenback against a basket of currencies, fell 0.5 per cent after Trump's hour-long press conference focused on reports of Russian interference in last year's US presidential election and an intelligence report that Russia holds compromising information about the president-elect.

    Investors were hoping for more details about Trump's planned spending on infrastructure and tax reform, which took a back seat in the briefing.

    "The USD index was trading a fairly steady path higher overnight, before a bout of volatility as the US president-elect gave a scheduled press conference early this morning," Bank of New Zealand senior market strategist Kymberly Martin said in a note.

    "He covered many topics, but gave little detail on any fiscal stimulus plans. After his free-ranging comments the USD has fallen."

    The kiwi rose to 57.70 British pence from 57.46 pence yesterday after Bank of England governor Mark Carney told policymakers the UK's exit from the European Union was no longer the biggest domestic threat to financial stability, and that the cost of not setting up a transitional deal would be higher for the continent than for the UK.

    The local currency increased to 66.58 euro cents from 66.30 cents yesterday.

    The kiwi edged up to 81.25 yen from 81.12 yen yesterday and climbed to 4.8944 Chinese yuan from 4.8432 yuan. It was little changed at 94.74 Australian cents from 94.77 cents.


    NZN




    © 2017 NZN, NZCity


     Other Business News
     28 Apr: ACCC drops action against Fonterra
     28 Apr: Kaikoura quake to shave 0.1pc from GDP
     28 Apr: NZ business confidence still upbeat
     28 Apr: Exports rise 11pc to 2-year high in March
     28 Apr: Any more surprises in the budget?
     28 Apr: NZ wool volumes still high at auction
     28 Apr: SkyCity posts dip in third-quarter revenue
     Top Stories

    RUGBY RUGBY
    Injuries strike three All Blacks veterans More...


    BUSINESS BUSINESS
    ACCC drops action against Fonterra More...



     Today's News

    Auckland:
    Car accident leaves three injured 11:06

    Sailing:
    Two Kiwi crews reach World Cup medal race 10:46

    Golf:
    Ko withdraws from LPGA tournament 10:26

    Entertainment:
    Heading into the depths of western Mongolia in search of the last eagle hunters 10:16

    Boxing:
    Anthony Joshua beats Wladimir Klitschko in 11-round TKO win to snare boxing heavyweight title 10:06

    Equestrian:
    NZ pair out of contention in Kentucky 10:06

    Accident and Emergency:
    Fatal crash in Hawke's Bay 8:46

    Rugby:
    Injuries strike three All Blacks veterans 8:16

    Athletics:
    Olympic great Adams to be a mother 8:06

    Rugby League:
    Fullback best for Lolohea: Johnson 7:56


     News Search






    Power Search


    © 2017 New Zealand City Ltd