NZ dollar gains on lure of higher interest rates

Tue, 08 Apr 2014

By Paul McBeth April 8 (BusinessDesk) - The New Zealand dollar gained as volatility in equity markets failed to spill over into foreign exchange, and the kiwi remained an attractive buy on the prospect of higher interest rates later this month. The kiwi rose to 86.30 US cents at 5pm in Wellington from 86.03 cents at 8am and 85.92 cents yesterday. The trade-weighted index advanced to 80.52 from 80.31. Traders are pricing in a 96 percent chance of a rate hike at the Reserve Bank’s April 24 meeting, according to the Overnight Index Swap curve...

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