NZ dollar heads for 0.9% weekly gain as global fears see investors dump greenback

Fri, 12 Feb 2016

By Paul McBeth Feb. 12 (BusinessDesk) - The New Zealand dollar is heading for a 0.9 percent weekly gain as increasing fears about the strength of the global economy has prompted investors to wind back their greenback holdings, having piled in on the prospect of higher interest rates in the world's biggest economy. The kiwi rose to 66.84 US cents at 5pm in Wellington from 66.27 cents on Friday in New York last week. It traded at 66.84 cents at 8am and 66.69 cents yesterday. The trade-weighted index increased to 72.56 from 72.35 yesterday,...

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