NZ dollar gains, bolstered by RBA minutes, strong dairy prices

Tue, 16 Jul 2013

By Paul McBeth July 17 (BusinessDesk) - The New Zealand dollar gained ahead of US Federal Reserve chairman Ben Benanke’s congressional testimony as speculative investors pare back their bets on the greenback, and was bolstered by Reserve Bank of Australia minutes talking down that nation’s inflation outlook. A strong gain in local dairy prices rounded out a bullish start for the currency. The kiwi rose to 78.97 US cents at 8am in Wellington from 78.28 cents yesterday. The trade-weighted index was little changed at 74.39 from 74.35 yesterday...

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