Wednesday, 13 Nov 2019 10:54 AM MYTSINGAPORE, Nov 13 — The New Zealand dollar soared 1 per cent today after the country’s central bank unexpectedly left interest rates on hold, while most other currencies trod water.
The kiwi zoomed almost a cent higher to US$0.6403 after the decision was announced, putting it on track for its steepest daily gain in a year. Yields on two-year New Zealand bonds jumped by their most in more than two years. Hopes for an imminent deal to wind back tit-for-tat tariffs the world’s two largest economies have imposed on each other have lifted the dollar 1 per cent this week to a one-month high of 98.423 overnight against a basket of currencies.
However his remark that a deal “could happen soon,” was enough to keep the dollar holding most of those recent gains. The dollar scaled a month-high against the euro overnight and steadied near that level at US$1.012 today.