NZ dollar gains as lift in crude oil, commodities bolsters currencies linked to raw materials

Mon, 12 Dec 2016

By Jonathan Underhill Dec. 13 (BusinessDesk) - The New Zealand dollar gained along with other commodity-linked currencies as prices of raw materials including crude oil rose overnight and the greenback declined. The kiwi dollar advanced to 71.88 US cents as at 8am in Wellington, from 71.44 cents late yesterday. The trade-weighted index gained to 78.88 from 78.66. Crude oil rose about 2.5 percent overnight to reach a 17-month high after OPEC and some non-OPEC producers agreed to cut output next year, while the CRB Index of 19 commonly t...

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