NZ dollar gains in face of broad US dollar weakness as RBNZ statement looms

Wed, 12 Jun 2013

By Tina Morrison June 13 (BusinessDesk) – The New Zealand dollar rose before the Reserve Bank’s policy statement as investors weighed the prospects for a gradual reduction in momentary stimulus in the US and the greenback dropped against most major currencies. The kiwi gained to 79.59 US cents, from 78.76 cents at 5pm yesterday. The trade-weighted index edged up to 74.06 from 73.45 yesterday. The dollar index, which measures the greenback against six major trading partners, dropped to its lowest in four months as traders ponder the end of th...

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