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New Zealand Dollar Supported By G20 Hopes
The New Zealand dollar entered an eighth consecutive day of gains against the U.S. dollar on Thursday, lifted by optimism ahead of the G20 summit set to commence on Friday. Earlier in the week the Kiwi got a boost after Stats NZ reported a wider-than-expected May trade surplus and the Reserve Bank of New Zealand held back from cutting interest rates. G20 Meeting China is New Zealand’s largest trading partner in goods and its second largest trading partner in services. A weakening Chinese economy typically has a negative effect on the value of the New Zealand dollar. Presidents Donald Trump and Xi Jinping are set to ... (full story)