News | Business
29 Mar 2017 3:01
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 Mar: Kiwi to see more upside after Trump defeat
     28 Mar: FMA releases update on non-GAAP measures
     28 Mar: EPA rejects claims charges unreasonable
     28 Mar: Fulton Hogan lifts pre-tax profit 13pc
     28 Mar: TeamTalk shareholders to vote on sale
     28 Mar: Insurers count cost of Kaikoura quake
     28 Mar: Kiwi fails to move on US weakness
     Top Stories

    RUGBY RUGBY
    ARU reassure Force after axing reports More...


    BUSINESS BUSINESS
    Kiwi to see more upside after Trump defeat More...



     Today's News

    Soccer:
    Clinical All Whites too strong for Fiji 23:17

    Entertainment:
    Coleen and Wayne Rooney are not "romantic" 21:42

    Business:
    Kiwi to see more upside after Trump defeat 21:17

    Entertainment:
    Amanda Seyfried has given birth to her first child 21:12

    Entertainment:
    Chris Evans wants to become a father someday 20:42

    Entertainment:
    Cara Delevingne wants to be an "astronaut or a spy" 20:12

    Entertainment:
    Joshua Jackson is using dating apps to find love 19:42

    Entertainment:
    Emma Roberts says the key to maintaining a relationship in the public eye is being able to "step away" from the spotlight 19:12

    Rugby League:
    Big guns return for NRL heavyweights 18:57

    Entertainment:
    Cher has dropped out of her upcoming Lifetime movie appearance as she’s “worried” about her mother’s “fragile” health 18:42


     News Search






    Power Search


    © 2017 New Zealand City Ltd