NZ dollar gains as investors look to book profits from surging greenback heading into 2017

Thu, 29 Dec 2016

By Paul McBeth Dec. 30 (BusinessDesk) - The New Zealand dollar gained as investors looked to take advantage of an 8.2 percent gain in the greenback over the past quarter, booking profits and squaring up their books heading into 2017. The kiwi rose to 69.44 US cents as at 8am in Wellington from 69.28 cents yesterday. The trade-weighted index edged up to 77.56 from 77.41 yesterday. The greenback has been on a tear this quarter as the Federal Reserve delivered on an expected interest rate hike in December, and signalled a more aggressiv...

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