New Zealand Dollar Rises to 70 Cents for First Time Since 2018 By Bloomberg


© Reuters. New Zealand Dollar Rises to 70 Cents for First Time Since 2018

(Bloomberg) — New Zealand dollar extended its advance to 70 cents per dollar, a level not seen since June 2018.

The currency rose after Finance Minister Grant Robertson released a letter to the central bank expressing concerns over how low rates have stoked home prices, prompting the market to price out the possibility of negative borrowing costs.

The rose as much as 1.1% to 0.70 as of 8:47 a.m. in London.

 

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