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Thread: NZ dollar rockets above US75c

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    MotherBear's Avatar
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    Default NZ dollar rockets above US75c

    NZ dollar rockets above US75c
    9:07AM Tuesday Oct 20, 2009

    The New Zealand dollar has leapt through a critical benchmark this morning.

    The kiwi climbed above US75c for the first time in 15 months, rocketing up more than 1c to near US75.5c.

    This high level will be alarming to exporters.

    By 8am the kiwi was buying US75.37c, up from US74.37c at 5pm yesterday.

    The NZ dollar also reached a 15-month high of 0.5047 euro early today.

    Against the Japanese currency the kiwi peaked at a one-year high 68.48 yen, easing to 68.35 yen by the local open from 67.54 yesterday evening.

    The ANZ bank said risk appetites appeared unquenched as markets expected interest rates in the United States to remain lower into 2010.

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    Dollar smashes another high mark
    9:30AM Thursday Oct 22, 2009

    The New Zealand dollar has again set a new 15-month high this morning - the second time in a few days it has done so.

    The kiwi has passed through the US76c mark.

    By 8am the NZ dollar was buying US76.21c, having peaked an hour earlier at a 15-month high near US76.35c.

    That follows its close of around US75c last night.

    Support for the kiwi is being largely driven by a weak US dollar.

    This morning on Radio Live, banking and finance commentator Bernard Hickey said it's not out of the question to contemplate the kiwi valued at dollar-for-dollar with the greenback one day soon.

    "It will hurt exporters a lot - but this is great news for anyone thinking about buying a consumer product or planning that trip overseas", Hickey said.

    More here.
    Mother Bear

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    macfod's Avatar
    macfod is offline Oh Masterful One
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    Default bad timing!

    typical, we need to change some more stirling before 20th Jan and the kiwi dollar decides to climb again with the pound floundering....

    ah well its ONLY money..

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