NZ dollar advances as investors buy back kiwi after Fonterra sell off

Wed, 07 Aug 2013

By Tina Morrison Aug 8 (BusinessDesk) – The New Zealand dollar advanced as investors increased their holdings of the local currency following a sell off earlier in the week on concern about the impact of a food contamination scare on the New Zealand economy. The kiwi rose to 79.56 US cents at 8am in Wellington from 78.94 cents yesterday. The trade-weighted index gained to 75 from 74.66. Some investors sold the New Zealand dollar earlier in the week on the expectation the currency would fall further on concern a food contamination scare at Fo...

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