NZ dollar gains as Griffin's deal announced, OCR review awaited

Mon, 21 Jul 2014

By Jonathan Underhill July 21 (BusinessDesk) - Philippines-based company stoked expectations of demand for the kiwi and as traders pondered the likely language the Reserve Bank will use if it hikes interest rates as expected on Thursday. The local currency rose to 87.12 US cents at 5pm in Wellington from Australian private equity firm Pacific Equity Partners today said it will sell snack-food company Griffin's to Universal Robina Corp of the Philippines subject to regulatory approvals. The currency also got a lift after traders who h...

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