NZ dollar heads for 0.8% weekly gain, testing post-float high

Fri, 11 Jul 2014

By Paul McBeth July 11 (BusinessDesk) - The New Zealand dollar is heading for a 0.8 percent gain against the greenback this week, having tested a post-float high 88.40 US cents, as the prospect of lower interest rates in the US stokes demand for higher-yielding assets. The kiwi rose to 88.08 US cents at 5pm in Wellington from 87.38 cents on Friday in New York last week, and was little changed from 88.21 cents at 8am and 88.20 cents yesterday. The trade-weighted index was 81.85 at 5pm in Wellington from 81.91 yesterday, and is heading for...

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