NZ dollar gains on lack of new measures to tackle heat in housing market from RBNZ

Wed, 11 May 2016

By Jonathan Underhill May 11 (BusinessDesk) - The New Zealand dollar rose after the Reserve Bank's financial stability report failed to deliver new measures to cool the housing market, quashing speculation among currency traders that such a move would give the bank a clear run to cut interest rates next month. The kiwi rose to 67.88 US cents as at 5pm in Wellington, from 67.42 cents late yesterday. The trade-weighted index rose to 72.46 from 72.05 yesterday. The New Zealand dollar missed a rally among other commodity-linked currencies...

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