NZ dollar gains, benefiting from weakness in other currencies

Thu, 27 Nov 2014

By Paul McBeth Nov. 27 (BusinessDesk) - The New Zealand dollar rose as investors look to exit currencies where central banks may continue with low interest rates and money printing programmes. The kiwi rose to 78.98 US cents at 5pm in Wellington from 78.75 cents at 8am and 78.15 cents yesterday. The trade-weighted index advanced to 78.59 from 78 yesterday. Investors have been winding back their holdings of yen, sterling and euro as central banks in those regions look likely to continue with ultra-loose monetary policy to either stir or...

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