NZ dollar climbs above 86 cents as economic prospects, high yields drive demand

Thu, 11 Apr 2013

April 12 (BusinessDesk) – The New Zealand dollar continued its rally, topping 86 US cents and charting a new record on a trade-weighted basis as the nation’s economic fundamentals and demand for high yields in a low-rate world drove demand. The kiwi rose to 86.32 US cents from 85.92 cents at 5pm in Wellington yesterday. The trade-weighted index rose to 79.36 from 79.11. Stocks on Wall Street have set new record highs, keeping intact global risk-on sentiment and demand for the currency of a central bank whose key interest rate is as much as 2...

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