NZ dollar gets lift from US-China trade progress

By Rebecca Howard | Fri, 08 Nov 2019


The New Zealand dollar benefited from improving risk appetite as an interim US-China trade deal appeared more likely. The kiwi was trading at 63.63 US cents at 7:50 am in Wellington versus 63.47 cents at 5pm. The trade-weighted index was at 70.05 from 70.02. The global mood improved after China announced that the soon-to-be signed phase one agreement will specify which tariffs will be rolled back as assorted milestones are reached, said Kiwibank senior FX trader Mike Shirley. The news was confirmed by a US official, which added to the imp...