NZ dollar gains on concern US politicians yet to reach agreement as debt ceiling deadline looms

Mon, 14 Oct 2013

By Tina Morrison Oct. 15 (BusinessDesk) – The New Zealand dollar advanced as concern US politicians have yet to reach agreement before this week’s deadline for raising the nation’s debt limit, risking default, weighed on the greenback. The kiwi rose to 83.67 US cents at 8am in Wellington from 83.31 cents at the 5pm market close yesterday. The trade-weighted index gained to 77.64 from 77.34 yesterday. The US dollar index, which measures the greenback against a basket of currencies, declined as the political gridlock continues. US politicians...

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