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Option Traders Bet on Aussie Outshining Kiwi as Trade Fears Ebb
Option Traders Bet on Aussie Outshining Kiwi as Trade Fears Ebb

Bloomberg

time04-05-2025

  • Business
  • Bloomberg

Option Traders Bet on Aussie Outshining Kiwi as Trade Fears Ebb

Investors are buying currency options on the Australian dollar, wagering it will outperform its New Zealand counterpart as global trade tensions ease. The Australian dollar is rebounding from its lowest level versus the kiwi since February 2024 and may pass through 1.10, according to Westpac Banking Corporation. All of the currency pair's option trades last week sized at or above notional A$60 million ($38.5 million) on The Depository Trust and Clearing Corporation were call options, a strategy that will be rewarded if the exchange rate rises further.

Westpac New Zealand online banking outage leaves customers frustrated, outraged
Westpac New Zealand online banking outage leaves customers frustrated, outraged

Time of India

time01-05-2025

  • Business
  • Time of India

Westpac New Zealand online banking outage leaves customers frustrated, outraged

A technical glitch brought down the online services of Westpac Banking Corporation in New Zealand on Thursday (May 1), leaving thousands of customers in the lurch. The problem, however, did not affect card services, ATMs, and scheduled payments. #Pahalgam Terrorist Attack A Chinese shadow falls on Pahalgam terror attack case probe How India can use water to pressure Pakistan Buzzkill: How India can dissolve the Pakistan problem, not just swat it Westpac One browser as well the iOS and Android app users were at the receiving end of the online glitch. Many complained that they were unable to transact, transfer money, pay bills, or access certain other online services. Some of them took to the social media to vent their ire. Westpac New Zealand issued an apology and assed that its tech teams were working on brining the affected services back online. 'We apologise for the inconvenience, our tech teams are looking into this with urgency.' 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo Nearly two hours after the initial reports, Westpac announced the matter was resolved. 'Westpac One has been restored. We sincerely apologise for the inconvenience,' the bank stated on its website and social media. One customer reported being unable to purchase groceries due to the inability to transfer money. Another customer said they were annoyed that it was happening. Live Events 'When are you going to start giving money back to customers for being so inconvenient? Less than six weeks ago your app was down,' one customer posted. Another customer shared their difficulty, stating, 'I can't do my groceries because I can't transfer my money.' Some customers reported being unable to pay for petrol or top up Hop cards. One customer expressed frustration with the frequency of such issues. 'A text would have been great so people aren't stressing. I was literally trying to do a transfer but couldn't get in,' one person said on Facebook. Another poster on X (formerly Twitter), "i'm so fed up with westpac im tempted to switch banks this is getting ridiculous (sic)." Another customer shared, 'This happens at least once a week, I have bills to pay and can't access my account!!!!!' Another customer lamented, 'Sucks Much! Can't even transfer funds to Gas my Car this morning.' Downdetector recorded a peak of 581 user reports regarding the outage. Issues were initially reported around 8:30 am New Zealand time.

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