CORRECT NZ dollar surges after the Reserve Bank signals interest rates are headed up

Thu, 25 Jul 2013

(Corrects third paragraph to add ‘removal’ of monetary stimulus, updates rates) By Tina Morrison July 26 (BusinessDesk) - The New Zealand dollar surged after the central bank yesterday signalled interest rate hikes were on the horizon, increasing the lure of local assets. The kiwi rose to a six-week high of 81 US cents, and recently traded at 80.61 cents, from 79.80 cents at the 5pm market close in Wellington yesterday. The local currency surged to a four-and-a-half year high of 87.74 Australian cents, and recently traded at 87.20 cents, fro...

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