NZ dollar advances as oil price rise bolsters commodity currencies

Wed, 06 Apr 2016

By Tina Morrison April 7 (BusinessDesk) - The New Zealand dollar advanced as a gain in the price of crude oil lifted sentiment for commodity-linked currencies. The kiwi rose to 68.27 US cents at 8am in Wellington, from 68.09 cents at 5pm yesterday. The trade-weighted index edged up to 72.22 from 72.15 yesterday. Oil prices rose 5 percent, notching up their biggest advance in three weeks, after data from the Energy Information Administration showed US crude oil stockpiles unexpectedly dropped by 4.9 million barrels last week. Analysts p...

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