Kiwi consolidates morning gains

Last updated 19:01 14/09/2012

Related Links

Fed bets big to rescue US economy

Relevant offers


New plans for Hotel Grand Chancellor site Crafting sweet treats from beans to bars Farmers advised to seek help over mental illness Sustainable farming granted $9.9m funding Genesis shares list at a premium Moths, beetles free farm of stock-threatening weed Getting ready to kill the evil weevil Air New Zealand escapes class action Air NZ to seek costs over cargo cartel case Say goodbye to the paper CV

The New Zealand dollar rose strongly against the greenback, consolidating morning gains that followed a US Federal Reserve announcement of a US$40 billion (NZ$48b) per month mortgage backed bond-buying programme.

The kiwi recently traded at US83.36, up from US82.99 around midday.

It was at 78.82 Australian cents, up from 78.7 in the morning, 63.99 Euro cents, up from 62.99 earlier, and 64.7 Japanese Yen up from 64.38.

ASB Institutional bank's head of FX sales, Tim Kelleher, said it had been a day of orderly trading that was one-way traffic.

''The dollar slowly went north and hasn't backed off all day.''The Trade Weighted Index was up at 73.6, from 73.41 earlier. 

Ad Feedback

- © Fairfax NZ News

Special offers

Featured Promotions

Sponsored Content