NZ dollar climbs above 70 US cts as Chinese yuan soars on capital controls, US rate path questioned

Thu, 05 Jan 2017

By Paul McBeth Jan. 6 (BusinessDesk) - The New Zealand dollar climbed above 70 US cents for the first time in three weeks as Chinese authorities looked to curb capital outflows, sending the yuan higher. and minutes to the Federal Reserve's last policy review raised uncertainty about the path of US interest rates, sapping demand for the greenback. The kiwi rose to 70.24 US cents as at 8am in Wellington from 69.89 cents yesterday. The trade-weighted index was little changed at 77.61 from 77.59. China's yuan posted its biggest gain agai...

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