NZ dollar advances as higher yields lure investors

Thu, 11 Feb 2016

By Tina Morrison Feb. 12 (BusinessDesk) - The New Zealand dollar advanced even amid fears of a global slowdown, as the country's higher relative interest rates lured investors. The kiwi gained to 66.84 US cents at 8am in Wellington, from 66.69 cents at 5pm yesterday. The trade-weighted index increased to 72.53 from 72.35 yesterday. Fears of a global economic slowdown and concerns about stress in the banking system increased the demand for safe haven assets, such as the Japanese yen. The New Zealand dollar, which typically weakens in ti...

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