NZ dollar gains as US bond rally runs out of puff in Asia, capping greenback's rise

Tue, 15 Nov 2016

By Jonathan Underhill Nov. 15 (BusinessDesk) - The New Zealand dollar gained as US bonds rose in Asia, capping a selloff that drove yields to their highest levels this year and dragged the greenback up with them. The kiwi traded at 71.11 US cents as at 5pm in Wellington, from 70.98 cents late yesterday. The trade-weighted index rose to 77.47 from 77.18. The yield on benchmark US 10-year Treasuries reached as high as 2.3 percent overnight but has since retreated back to 2.21 percent, according to Reuters data. The US dollar index fell 0...

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