NZ dollar heading for 2% weekly gain as prospect of static US rates scales back greenback bets

Fri, 26 Feb 2016

By Paul McBeth Feb. 26 (BusinessDesk) - The New Zealand dollar is heading for a 2 percent gain against the greenback as investors continue to scale back their bets on the world's reserve currency on the increasing chance US interest rates won't rise as far or as fast as previously thought. The kiwi rose to 67.63 US cents at 5pm in Wellington from 66.29 cents on Friday last week in New York. It was up from 67.12 US cents at 8am and 66.47 cents yesterday. The trade-weighted index is heading for a 1.9 percent weekly gain to 73.46 and is up...

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