NZ dollar rises

new zealand dollar 1The New Zealand dollar rose to a two-week high against the British pound after UK Foreign Secretary Boris Johnson became the latest minister to resign from Theresa May’s Conservative government over her Brexit plans.

The kiwi dollar rose to 51.59 British pence, and earlier touched 51.82 pence from 51.42 pence late yesterday. The kiwi traded at 68.33 US cents from 68.39 cents yesterday.

In New Zealand today, traders will be watching for June electronic card spending and across the Tasman, the National Australia Bank business conditions survey for June is due out and in China, the PPI and CPI for June are scheduled.

The kiwi traded at 91.57 Australian cents from 91.65 cents yesterday and declined to 4.5188 yuan from 4.5268 yuan. It rose to 75.74 yen from 75.52 yen and traded at 58.18 euro cents from 58.14 cents. The trade-weighted index traded at 72.76 from 72.78.

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