News | Business
18 Jan 2017 10:17
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Days of Xmas
  • 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
     18 Jan: Business as usual for Wellington Phoenix
     18 Jan: Dairy product prices rise
     17 Jan: Diplomatic stoush won't affect business
     17 Jan: NZ dollar market awaits auction, speech
     17 Jan: Postr raises $3 million for expansion
     17 Jan: IRD audits Microsoft NZ
     17 Jan: Powerco wants price rise for network
     Top Stories

    RUGBY RUGBY
    Cruden signs for Montpellier: reports More...


    BUSINESS BUSINESS
    Business as usual for Wellington Phoenix More...



     Today's News

    International:
    India's currency swap sees economy take a hit, but most remain supportive of anti-graft objective 10:07

    Business:
    Business as usual for Wellington Phoenix 10:07

    Entertainment:
    Selena Gomez isn't worried about upsetting Bella Hadid with her relationship with The Weeknd 10:00

    Christchurch:
    Man killed in Canterbury farm accident 9:47

    Entertainment:
    David Gandy insists men won't "get laid" if they wear slogan T-shirts 9:30

    Rugby:
    Cruden signs for Montpellier: reports 9:27

    Entertainment:
    George Michael was reportedly addicted to anti-depressants 9:00

    Entertainment:
    Victoria Beckham has shut down plans for a Spice Girls reunion tour after stopping the girls from performing their old songs 8:30

    Politics:
    Greg Hunt tipped to be next federal health minister 8:07

    Living & Travel:
    Junior doctors to continue strike 8:07


     News Search






    Power Search


    © 2017 New Zealand City Ltd