N.Z. dollar
The kiwi dollar strengthened to nearly 51.20 U.S. cents on Thursday and largely held those gains overnight, said Mr Guy Morgan, of NZI Futures. Resistance was around 5130, and unless there were some weakening in the Australian dollar, this level was likely to be breached. “Little direction is being lent to the unit by the U.S. dollar, which is gasping to stay above 2.00 Deutche mark level.” Mr McDonnell said there was no effect on the N.Z. dollar by the problems of the U.S. dollar. Events in New Zealand such as the recent firming of interest rates and recent American bond issue had contributed to the stronger kiwi dollar. “In the meantime, we see
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Press, 11 October 1986, Page 26
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116N.Z. dollar Press, 11 October 1986, Page 26
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