NZ dollar gains across the board as South Pacific favoured in month end
Dec. 30 (BusinessWire) – The New Zealand dollar gained as some fund managers preparing for month-end flowed into the trans-Tasman currencies to square up their position heading into January.
The kiwi surged 1.1% on a trade-weighted basis as “real money flows and custodian accounts square up their positions for month-end,” according to Bank of New Zealand currency strategist Danica Hampton. The currency has gained 0.5% to 71.90 U.S. cents this month after yesterday’s gain, and may avoid its third straight monthly decline.
“The U.S. dollar was a little bit heavy across …
Tags: Bank of New Zealand, Currency, Kiwi, new zealand, NZ Dollar, NZD, US Dollar, USD
