NZ dollar heads for 1% weekly gain on strong local economy, low US rates

NZ dollar heads for 1% weekly gain on strong local economy, low US rates
By Suze Metherell June 20 (BusinessDesk) - The New Zealand dollar is heading for a 1 percent gain against the greenback this week, remaining at an elevated level after government figures showed strong local economic growth and the Federal Reserve signalled US rates will stay lower for longer. The kiwi traded at 87.20 US cents at 5pm in Wellington up from 87.07 cents at 8am and 87.13 cents yesterday. The trade-weighted index slipped to 81.04 from 81.09 yesterday. The local currency has advanced week from 86.31 US cents last Friday in New Y...