News | Business
25 Mar 2017 2:59
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
     24 Mar: Kiwi stable as investors await US vote
     24 Mar: TeamTalk to sell Farmside stake
     24 Mar: Struggling Intueri leaving Aust early
     24 Mar: Kiwi steady as Trump faces confidence test
     23 Mar: Kiwi little changed after RBNZ stands pat
     23 Mar: NZ shares rise while Fletcher drops again
     23 Mar: Vodafone selected for GCSB's pilot
     Top Stories

    RUGBY RUGBY
    Crusaders smash Force to lead Super Rugby More...


    BUSINESS BUSINESS
    Kiwi stable as investors await US vote More...



     Today's News

    Soccer:
    Mariners A-League boss has goal in mind 21:57

    Entertainment:
    Kendra Wilkinson says her husband Hank Baskett makes her feel "more successful" 21:49

    Rugby:
    Crusaders smash Force to lead Super Rugby 21:47

    Entertainment:
    Khloe Kardashian used to feel "embarrassed and ashamed" when she went shopping with her sisters 21:19

    Living & Travel:
    Tributes for leading retailer 21:17

    Entertainment:
    Kristen Bell and Dax Shepard have couples therapy 20:49

    Entertainment:
    Jenny Slate has hinted that her ex-boyfriend Chris Evans' global fame caused problems in their relationship - because it stopped them doing normal things as a couple 20:19

    Entertainment:
    Mariah Carey's 'All I Want for Christmas Is You' is to be turned into an animated movie 19:49

    Rugby League:
    Eels in the frame to land Sharks' Bird 19:27

    Entertainment:
    Justin Bieber has made one of his most unusual Instagram posts - uploading a black and white video of him dancing topless with an elderly woman 19:19


     News Search






    Power Search


    © 2017 New Zealand City Ltd