NZ dollar gains as Russian rate hike, upbeat European data sap greenback

Tue, 16 Dec 2014

By Paul McBeth Dec. 17 (BusinessDesk) - The New Zealand dollar gained in volatile markets after Russian policymakers hiked interest rates to shore up a tumbling ruble and European data beat expectations, sapping demand for the US dollar ahead of the Christmas and New Year holiday period. The kiwi rose to 77.85 US cents at 8am in Wellington from 77.45 cents yesterday. The trade-weighted index advanced to 78.23 from 77.90 yesterday. Russia's central bank unexpectedly hiked interest rates to 17 percent from 10.5 percent in an effort to st...

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