NZ dollar gains as oil prices recover, Asian stock rally

Thu, 21 Jan 2016

By Paul McBeth Jan. 21 (BusinessDesk) - The New Zealand dollar recovered yesterday's losses as oil prices rose from a 13-year low, triggering a rally in equity markets and spurring demand for commodity-linked currencies. The kiwi rose to 64.36 US cents at 5pm in Wellington from 64.19 cents at 8am, and 63.77 cents yesterday. The trade-weighted index gained to 71.22 from 70.65 yesterday. Stocks on Wall Street rallied late in the session on a bounce in oil prices. That upbeat sentiment continued into the Asian trading session, with Chin...

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