NZ dollar gains as record February trade surplus affirms local growth story

Thu, 27 Mar 2014

By Paul McBeth March 27 (BusinessDesk) - The New Zealand dollar rose after a record trade surplus for the month of February fuelled optimism about local economic growth, which has tipped the Reserve Bank into a tightening cycle to head off the threat of future inflation. The kiwi rose to 86.25 US cents at 5pm in Wellington from 85.95 cents at 8am and 85.87 cents yesterday. The trade-weighted index advanced to 80.43, matching a post-float record it reached last week, from 80.16. New Zealand’s posted a trade surplus of $818 million in Febru...

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