Kiwi tipped to soar again

Wednesday 14 July 2004

Batten down the hatches: The New Zealand dollar is believed to be on its way back to US70 cents in the next few months.

By The Landlord

But opinions are divided as to whether it will still be trading at those heights a year from now - or might have slumped as low as US55c.

The Kiwi opened at a three-month high of US66.13c yesterday after peaking at US66.24c overnight.

"It has been on a move higher ever since we had some pretty weak economic data come out of the United States," Westpac chief currency dealer Basil Payn said.

The US dollar slide had boosted a raft of key currencies, but investors were aiming at high-yielding currencies such as the Kiwi given the prospects for an increasing gap between rising New Zealand interest rates and lower rates in the US.


Read More - Opens in a new window
Commenting is closed

Property News

Sales, prices surge up - defying expectations

The housing market’s post-Covid rebound continued in June with house prices rising further and sales volumes hitting a four year high – but economists are asking if it will last.

House Prices

S&P forecast 10% house price fall

Global ratings agency Standards & Poors is the latest to join the chorus of predictions around potential house price falls in New Zealand – and they’re picking a 10% drop.

Commercial

Augusta Capital takeover bid now unconditional

ASX-listed Centuria Capital has declared that its takeover of New Zealand property funds manager Augusta Capital is now unconditional, as it has secured nearly 66% of Augusta’s shares.

Mortgages

Mortgage demand picked to decline

Banks are expecting a fall in demand for mortgage lending in the second half of 2020, according to a new Reserve Bank Credit Conditions Survey.

Site by PHP Developer