NZ dollar gains as investors shy away placing more bets for the US dollar to gain

Thu, 30 Oct 2014

By Tina Morrison Oct. 31 (BusinessDesk) - The New Zealand dollar advanced as investors shied away from placing further bets that the greenback would rise. The kiwi rose to 78.42 US cents at 8am in Wellington, from 77.90 cents at 5pm yesterday. The trade-weighted index gained to 76.52 from 76.06 yesterday. Investors eschewed placing further bets that the US dollar would rise as data from the US Commodities Futures Trading Commission showed the net number of 'long' positions, betting the greenback would likely rise in value, is at its hi...

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