Kiwi hits new high
ixrt voiatife farwdlM la which tt W * new pout float high of US65.«c. Dealers were divided on its immediate direction. - > The Klwidooed at U58528/35C against Ms open of U564?5/80c and Fridays close of U 56460/ 67c. ' The previous post-float high of U565.40C was set last Tuesday - and compares with the float level of U544.44C in March; 1985. Dealers said the buying of one big NX corporation and a stronger Australian dollar caused the kiwi’s bullish rise; . 1 Cross rates for the New Zealand dollar were Aust9l.72c, IJIO7 marks, 40.46 p, 96.445 yen, and 1.0086 Swiss francs. » The Reserve Bank of New Zealand trade weighted index closed at 75.2 against its 9 a.m. fix of 74.9 and Friday's close Of 74.0. : In Melbourne a firmer US. dollar kept the Australian dollar under sure, pushing it an easier finish at US7L4S/50C from Friday's U 571.63/ 68c close, dealers said. But the dose was up from an early U571.18/J 23c. They said trading was nervous and thin be-' cause the Sydney market was closed for the N.S.W. Labour Day holiday.
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Press, 6 October 1987, Page 47
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181Kiwi hits new high Press, 6 October 1987, Page 47
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