Dollar at 5-month low

by NZ Adviser24 Oct 2017
The New Zealand dollar traded near a five-month low as traders await details of the coalition's policies.

The kiwi dollar traded at 69.61 US cents as at 8:00am in Wellington this morning from 69.63 cents late yesterday, when it touched 69.29 cents, the lowest since late May. The trade-weighted index was at 73.59 from 73.60.

On Friday, NZ Adviser reported that the dollar had fallen about 2% after NZ First announced on Thursday evening it would form a government with Labour.

Today, the kiwi traded at 79.13 yen, near a month-low, from 79.11 yen late yesterday after Japanese PM Shinzo Abe's ruling coalition had a convincing election win over the weekend, ensuring the continuation of stimulatory monetary policy.

It traded at 89.21 Australian cents from 89.07 cents late yesterday and was at 52.74 British pence from 52.76 pence. It traded at 4.6200 yuan from 4.6065 yuan and at 59.27 euro cents from 59.11 cents.

Related stories:
Dollar falls on labour news
NZ dollar drops


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