(Reuters) – The New Zealand dollar provided the standout performance in otherwise unremarkable currency markets on Wednesday as it stood set to notch its biggest daily gain in a year after the central bank stunned investors by keeping interest rates on hold. Hedge funds and banks had built up massive short positions in the kiwi as the local dollar is known before the rate decision on bets that a protracted trade war between Washington and Beijing would hurt the export-oriented economy’s prospects.
New Zealand dollar set for biggest jump this year on cbank surprise
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