News | Business
26 Jun 2017 12:15
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Olympic Games
  • Ski Report
  • 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
     26 Jun: NZ King Salmon lifts earnings guidance
     26 Jun: NZD edges up amid bets on stronger kiwi
     26 Jun: Tower in trading halt as Vero lifts offer
     25 Jun: Moeraki Boulders gets speed control
     25 Jun: Posties' union delivers NZ Post broadside
     25 Jun: Kiwifruit class action headed to court
     25 Jun: Call to track building materials
     Top Stories

    RUGBY RUGBY
    All Blacks show Hurricanes the way More...


    BUSINESS BUSINESS
    NZ King Salmon lifts earnings guidance More...



     Today's News

    International:
    The silent partner: What it was like for journalist Eliza Harvey when her correspondent husband was shot 11:57

    Law and Order:
    Sir Ngatata Love's appeal dismissed 11:57

    Politics:
    Conservative Hindu nationalist group excited by parallels between Donald Trump and Narendra Modi 11:47

    Business:
    NZ King Salmon lifts earnings guidance 11:07

    Sailing:
    Team NZ must keep improving: Burling 10:48

    Accident and Emergency:
    NZ should close borders in pandemic: study 10:47

    Living & Travel:
    Fisherman missing in Southland 10:27

    Business:
    NZD edges up amid bets on stronger kiwi 10:07

    Business:
    Tower in trading halt as Vero lifts offer 9:27

    Motoring:
    Dixon claims IndyCar win at Kohler GP 9:07


     News Search






    Power Search


    © 2017 New Zealand City Ltd