NZ dollar at 6-month high on TWI basis as yields appeal

Tue, 29 Dec 2015

By Jonathan Underhill Dec. 29 (BusinessDesk) - The New Zealand dollar rose to a six-month high on a trade-weighted basis as the nation's relatively high yields drew investors in the quiet Christmas trading period. The trade-weighted index rose as high as 74.50, the highest since June 11, and was at 74.48 as at 5pm in Wellington from 74.12 yesterday in Asia. The kiwi gained to 68.70 US cents from 68.42 cents. While the Reserve Bank of New Zealand has cut its benchmark rate to 2.5 percent, it still overshadows Australia's at 2 percent an...

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