Kiwi dollar rally continues on US debt crisis
The USD is the clear loser in the currency markets as the debt ceiling dramas continue to take the spotlight, Bancorp Treasury says in its morning report.
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The USD is the clear loser in the currency markets as the debt ceiling dramas continue to take the spotlight, Bancorp Treasury says in its morning report.
The Kiwi hit a record of 87.43USc as any hopes of a US resolution "would have been dashed when President Barack Obama said that the nation’s burgeoning debt threatens to do “serious” damage to the US economy and that Congress must compromise to address future deficits", Bancorp said.
It reported President Obama called on lawmakers to put politics aside to reach a deal on a balanced approach and blamed the
Despite yesterday's softer trade data and record high NZD, markets are still picking that the OCR will be hiked in October.
No change is expected in the OCR tomorrow.
NBR staff
Wed, 27 Jul 2011
Wed, 27 Jul 2011
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Kiwi dollar rally continues on US debt crisis
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