Wed, 17 Jul 2019

New Zealand dollar a stand-out on FX markets

By Jay Jackson, Johannesburg News
11 Nov 2018, 05:02 GMT+10

NEW YORK, New York – The New Zealand dollar made the most gains in volatile foreign exchange trading this week amidst the U.S. midterm elections and continuing uncertainty about the direction of China-U.S. trade relations which kept traders on their toes.

The British pound had its highs and lows through the week, its movements indexed to the progress of negotiations on a deal between Britain and the European Union in relation to Brexit, which by the end of the week was just as elusive as at the start.

The trans-Tasman currencies gained ground while the Japanese yen weakened.

By the close of trading for the week in New York, the euro was changing hands at 1.1340. The British pound, after a roller coaster ride through the week, ended at 1.2969.

The Japanese yen weakened to 113.79, while the Swiss franc and Canadian dollars were quoted at 1.00535 and 1.32035 respectively.

The Australian dollars continued their recent bout of strength, finishing short of their highs but much improved on the previous week. The Australian dollar finished at 0.7227 and the New Zealand dollar at 0.6737.

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