News | Business
14 Dec 2017 7:41
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Days of Xmas
  • Sport
  • Weather
  • 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

    Kiwi's 3pc weekly fall vs greenback

    The NZ dollar is heading toward a 3 per cent weekly fall against the greenback as rising geopolitical tensions continued to crimp risk appetite.


    The New Zealand dollar is heading toward a three per cent weekly fall against the greenback as rising geopolitical tensions continued to crimp risk appetite and weak domestic data continues to weigh.

    The kiwi traded at US72.73c as at 5pm from US72.80c as at 8:30am in Wellington from 73.09c Thursday. It was at 74.98c in New York last Friday.

    The kiwi was trading at 79.23 yen from 80.44 yen, as the safe-haven yen continued to attract interest as US President Donald Trump stepped up his rhetoric against North Korea.

    US Defense Secretary James Mattis told reporters a diplomatic approach to the North Korean threat was still preferred and a war would be "catastrophic." However, when asked if the US was ready if North Korea took a hostile act, he said: "We are ready."

    Ross Weston, a senior trader at Kiwibank, said weak food price data and news that manufacturing activity continued to expand in July but dipped slightly compared with June added to the kiwi's weakness.

    This came after the Reserve Bank continued to signal rates would be on hold until September 2019.

    On Thursday, the central bank kept rates at 1.75 per cent.

    Looking ahead, Mr Weston said markets are waiting for US consumer price inflation data later in the global trading day, expected to have picked up to 0.2 per cent from zero the previous month.

    However, "any data is really a side show" to the geopolitical tensions. "That is the main focus," he said.

    The kiwi dropped to 4.8490 yuan from 4.8758 yuan, declined to 61.75 euro cents from 62.28 cents and decreased to 55.98 British pence from 56.26 pence. The kiwi was at A92.64c from 92.77c.


    NZN




    © 2017 NZN, NZCity


     Other Business News
     13 Dec: Jerusalem move is a big favour from Donald Trump. It won't be cheap to pay back
     13 Dec: Wellington-Queenstown flight route is back
     13 Dec: Big fine for commercial fishing in reserve
     13 Dec: Westpac to close five branches
     13 Dec: NZ house sales rise 17.8pc in November
     13 Dec: NZD touches four-week high overnight
     13 Dec: KiwiSaver in divorce, death and disaster
     Top Stories

    RUGBY RUGBY
    Australia bidding for 2027 Rugby World Cup More...


    BUSINESS BUSINESS
    Jerusalem move is a big favour from Donald Trump. It won't be cheap to pay back More...



     Today's News

    Accident and Emergency:
    Lifeguards braced for busy beach season 7:37

    Entertainment:
    Khloé Kardashian is planning to give birth in Los Angeles 7:30

    Law and Order:
    Biosecurity star sniffs out retirement 7:27

    Motoring:
    Car crash closes SH1 at Warkworth 7:17

    Politics:
    TOP to fight next election, minus Morgan 7:07

    Entertainment:
    Gwen Stefani and Blake Shelton's life is like a "musical" 7:00

    Entertainment:
    Kris Jenner has splashed out more than $9.9 million on a new home 6:30

    Accident and Emergency:
    Fire safety tips for festive season 6:27

    Entertainment:
    Dwayne ‘The Rock’ Johnson is set to become a father for the third time 6:00

    International:
    Chris Froome posted abnormal drug test result during Vuelta de Espana 22:17


     News Search






    Power Search


    © 2017 New Zealand City Ltd