NZ dollar at 3-year high, TWI surges to record as higher rates lure investors

Thu, 26 Jun 2014

By Tina Morrison June 27 (BusinessDesk) - New Zealand's trade-weighted currency index touched a record 81.67 and the kiwi reached a three-year high as the nation's relatively attractive yields in a global environment of low interest rates lured overseas investors. The trade-weighted index was at 81.57 at 8am in Wellington from 81.42 at 5pm yesterday. The New Zealand dollar was trading at 87.72 US cents, having reached 87.87 cents, from 87.59 yesterday. New Zealand's higher interest rates and stable political environment are attractive...

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