FUTURES $US contract down 100pts
The United States dollar contract on the futures market shed $5OO to $6OO yesterday as the New Zealand dollar strengthened with the Australian dollar.
June futures contracts dropped about 130 points, and May contracts about 110 points.
Mr David Halligan, of Jordan Sandman Futures, Auckland, said the Australian dollar was strong against the American currency yesterday. The New Zealand dollar rose in sympathy, but not as strongly. The New Zealand dollar has been easing slowly against the Australian dollar since a peak on May 1, Mr Halligan said. The New Zealand dollar was not sustained by the Reserve
Bank yesterday; the bank was selling.
Exporters were buying the currency, Mr Halligan said.
Wool futures prices were slightly easier yesterday. Both New Zealand futures contracts were still seeking a definite direction, Mr Halligan said.
Details of trading in the United States dollar contract yesterday were:
$US CONTRACT 85 Open H/L Last Vol May 2.2350 .2350/250 .2290 83 June 2.2660 .2675/580 .2580 12 July — —- — — Sep — — — — Dec — —- — — Mar — Contracts traded: 95. — —
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Press, 9 May 1985, Page 30
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173FUTURES $US contract down 100pts Press, 9 May 1985, Page 30
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