NZ dollar gains after RBNZ fails to add to housing market curbs

Wed, 11 May 2016

By Tina Morrison May 12 (BusinessDesk) - The New Zealand dollar gained after the Reserve Bank failed to add any new measures to curb housing market strength yesterday as some had expected, prompting a pull-back in bets for lower interest rates. The kiwi rose to 68.24 cents at 8am in Wellington, from 67.92 cents at 5pm yesterday. The trade-weighted index advanced to 72.68 from 72.49. The local currency has jumped 1 percent since the Reserve Bank yesterday published its six-monthly financial stability report, which said it's "closely mon...

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