It was a “risk-off” week for global markets, with most indices slipping as investors became more nervous about extended valuations across parts of the US market.
The local NZX 50 bucked the global trend with a small rise, while the NZ dollar continued to drift lower.
It fell to US$0.56 against the greenback, the lowest since just after Liberation Day in April.
The currency is also the weakest since 2015 against the British pound, the lowest since 2013 against the Australian dollar and at levels we haven’t seen since 2009 against the euro!
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Mark Lister
Investment Director
Market Insights enewsletter
Keep up to date with our fortnightly Market Insights enewsletter. Our research team provide timely and regular commentary and analysis on market developments, understanding investment jargon, and the impact of current events.