NZ dollar gains on yield appeal

Wed, 25 Mar 2015

By Jonathan Underhill March 25 (BusinessDesk) - The New Zealand dollar rose as the nation's relatively appealing interest rates drew investors who had unwound long US dollar positions following last week's Federal Reserve Open Market Committee meeting. The kiwi edged up to 76.36 US cents as at 5pm in Wellington, from 76.28 cents yesterday. The trade-weighted index eased to 79.47 from 79.53. The Reserve Bank's 3.5 percent official cash rate is a standout among central banks in developed nations, which have been cutting borrowing costs o...

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