NZ dollar gains as investors favour growth-linked commodity currencies

Sun, 13 Mar 2016

By Tina Morrison March 14 (BusinessDesk) - The New Zealand dollar advanced as currencies linked to commodities came back into favour. The kiwi was at 67.16 US cents at 8am in Wellington, from 67.38 cents at the New York close and 66.91 cents at 5pm on Friday. The trade-weighed index increased to 71.77 from 71.59 on Friday. Investors favoured currencies of commodity producing countries such as Australia, New Zealand and Canada as their appetite for higher risk assets linked to global growth improved. The International Energy Agency, whi...

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