NZ dollar strengthens
The New Zealand dollar has risen Thursday, trading at 64.61 US cents from yesterday’s 63.99 US cents.
According to the XE morning update, the kiwi surged higher following an upbeat monetary policy statement from the RBNZ.
Sentiment continues to improve with the continued slowdown in the rate of growth in new coronavirus cases and as such global equity markets along with risk linked currencies have outperformed.
The euro is the worst performing of the G20 currencies falling to its lowest level against the US dollar since May 2017 as investors position their books for the ECB to cut rates again this year in an effort to stimulate their slowing economic activity.
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