NZ dollar gains as housing, food price data hints at stronger inflation

Wed, 13 Apr 2016

By Jonathan Underhill April 13 (BusinessDesk) - The New Zealand dollar rose, extending its gains to a two-week high, after property sales and food price data underpinned the potential for stronger economic growth and inflation that would make further interest rate cuts by the Reserve Bank less urgent. The kiwi rose to 69.39 US cents at 5pm in Wellington, from 69.13 cents at the start of the day and up from 68.82 cents late yesterday. The trade-weighted index rose to 73 from 72.51 yesterday. Real Estate Institute data yesterday showed t...

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