AMP Capital selling kiwi dollar in expectation of decline

Thu, 17 Apr 2014

By Paul McBeth April 17 (BusinessDesk) - AMP Capital New Zealand, which manages more than $18 billion of assets, anticipates the kiwi dollar will start falling, and has started reducing its holdings in the local currency. The New Zealand dollar rose to a post-float high 81.03 on a trade-weighted basis on April 10, recently trading at 80.04, and ended the March quarter at a record on the MSCI weighted New Zealand dollar index, which AMP Capital uses to track the currency, head of investment strategy Keith Poore told a media briefing in Welli...

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