NZ dollar advances as greenback drops on outlook for weak oil prices

Tue, 09 Feb 2016

By Tina Morrison Feb. 10 (BusinessDesk) - The New Zealand dollar advanced on expectations continued weakness in oil prices reduces the likelihood of further US interest rate hikes, weighing on the greenback. The kiwi gained to 66.35 US cents at 8am in Wellington, from 65.88 cents at 5pm yesterday. The trade-weighted index increased to 72.28 from 71.89 yesterday. The US dollar index, which measures the greenback against a basket of currencies, touched its lowest in more than three months. The International Energy Agency lowered its for...

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