News and Opinion, sponsored by RaboPlus

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Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news the US dollar fell sharply overnight after the G20 finance ministers pledged to keep printing money and bailing out their economies, Bloomberg reported.

That will keep interest rates low and allow further devaluation of the US dollar. Meanwhile, the New Zealand dollar rose over 74 USc and over 66 on the Trade Weighted Index (TWI). News of Fonterra’s strong payout yesterday helped boost sentiment.

In New York, the bankers are back in bubble territory and are set to pay themselves US$29.7 billion worth of bonuses, up 60% from last year, Bloomberg reported. The Dow hit a 13 month high.

Back in Australasia, AMP has launched a bid for Axa Asia Pacific worth A$11 billion. That would cause a major shakeup in New Zealand’s life and super industries.

Tags: 90 seconds at 9am

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