News | Business
20 Jan 2017 18:47
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
     20 Jan: NZ shares edge lower in quiet trade
     20 Jan: NZ dollar continues to make headway
     20 Jan: Pumpkin Patch stores to close mid-February
     20 Jan: Inflation probably back in RBNZ band
     20 Jan: Employees upbeat about labour market
     20 Jan: Lyttelton Port workers on strike
     20 Jan: Mussel farms offer $300m boost: scientists
     Top Stories

    RUGBY RUGBY
    Four new caps for All Blacks Sevens More...


    BUSINESS BUSINESS
    NZ shares edge lower in quiet trade More...



     Today's News

    Cricket:
    Bangladesh go close to 300 in Christchurch 18:47

    Politics:
    Support for National is up in poll 18:37

    Entertainment:
    Fadi Fawaz has reportedly hired a bodyguard following the sad death of his partner George Michael 18:30

    Living & Travel:
    Domestic violence bush knife attack inspires Papua New Guinean man to tackle the 'pandemic' issue 18:17

    Business:
    NZ shares edge lower in quiet trade 18:07

    Entertainment:
    Kerry Washington kept the gender of her baby a surprise 18:00

    Entertainment:
    Bella Hadid is "hurt" The Weeknd has moved on with Selena Gomez 17:30

    Business:
    NZ dollar continues to make headway 17:27

    Environment:
    Warning for Hawke's Bay river 17:27

    Entertainment:
    Kourtney Kardashian is happy being single 17:00


     News Search






    Power Search


    © 2017 New Zealand City Ltd