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NZ dollar hovers near top of recent range as hopes rise

The New Zealand dollar is treading water near the top of its recent range on speculation the US Federal Reserve will either slow down or pause further rate hikes and hopes for a positive outcome to United States-China trade talks.

The New Zealand dollar was trading at 67.44 US cents at 5pm in Wellington compared with 67.54 at 8.30am. The trade-weighted index rose to 73.31 points from 73.28.

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