NZ dollar, attractive on yield basis, gains before Fed, Bank of Japan statements

Tue, 26 Jul 2016

By Jonathan Underhill July 26 (BusinessDesk) - The New Zealand dollar gained late in the day, although there were no obvious drivers other than demand for yield as traders await the outcome of policy reviews by the Federal Reserve and the Bank of Japan. The kiwi jumped to 70.49 US cents as at 5pm in Wellington, from 69.89 US cents at the start of the day and from 69.79 cents yesterday. The trade-weighted index gained to 75.51 from 74.98 yesterday. With little local news, deliberations by Fed policymakers are the next big hurdle for ma...

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