NZ dollar heads for 0.9 percent weekly gain after RBNZ hikes interest rates, Ukraine jitters loom

Fri, 14 Mar 2014

By Paul McBeth March 14 (BusinessDesk) - The New Zealand dollar is heading for a 0.9 percent weekly gain after the Reserve Bank kicked off a cycle of higher interest rates yesterday, though any upbeat investor sentiment may be short-lived as Russia faces more pressure over plans to annex Crimea. The kiwi rose to 85.39 US cents at 5pm in Wellington from 84.55 cents at the New York close last week. It touched an 11-month high of 86.06 cents earlier today, and traded at 85.23 cents at 8am, down from 85.61 cents yesterday. The trade-weighted ind...

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