NZ dollar gains as oil drives commodity index to 9-month high

Mon, 06 Nov 2017

The New Zealand dollar rose after crude oil gained to a two-year high, leading a rally in commodity prices and in currencies tied to exports of raw materials. The kiwi advanced to 69.25 US cents as at 8:30am in Wellington from 68.92 cents late yesterday. The trade-weighted index gained to 73.45 from 73.22. Crude oil jumped more than 3 percent amid concern about instability in the Middle East after Saudi Crown Prince Mohammed bin Salman extended a crackdown on corruption that has seen members of the royal family, ministers and business lea...

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