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Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news that the New Zealand dollar strengthened to fresh highs vs the British pound and the Euro overnight. It hit almost 50 euro cents this morning and almost 47 British pence. The kiwi also rose to 73 USc. The kiwi seems to be rising with the Australian dollar, which is strong on expectations the RBA may hike its official rate later today, or in a month's time on Melbourne Cup day. However, the NZ dollar weakened a tad vs the Australian dollar itself after Bill English said it was too strong. However the dip was only temporary and the Kiwi remains up near 83 Ac. Meanwhile, Crafar Farms has been put into receivership by its banks Westpac, Rabobank and PGGW Finance late yesterday. However, Christchurch developer David Henderson avoided bankruptcy for now but still faces angry creditors, The Press reported.
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