2022-08-12 09:30
NZ dollar rise pinches big exporters
Big exporters struggled on New Zealand's benchmark index today thanks to the NZ dollar lifting against the greenback while the overnight fall from the tech-heavy Nasdaq also bled into technology stocks across the board.The NZ dollar was sitting at 62.42 US cents on Monday and was up almost 2 US cents to 64.57 by the end of today – up from 63.95 US cents on Thursday.The S&P/NZX 50 index fell 29.4 points, or 0.25%, to 11,730.52. Turnover on the main board was light at just $81.1 million.Jarden wealth management director Greg Main said it had been a mostly quiet week for the market and investors were waiting for Monday to roll around so earnings season could finally kick off.

https://businessdesk.co.nz/article/markets/nz-dollar-rise-pinches-big-exporters

#businessdesk