NZ dollar heads for 1.1% weekly gain as interest rate advantage remains attractive

Fri, 19 Aug 2016

By Paul McBeth Aug. 19 (BusinessDesk) - The New Zealand dollar is heading for a 1.1 percent weekly gain against the greenback as the country's relatively high yields continue to attract investors in search of decent returns in a world where major central banks are running near-zero interest rate policies. The kiwi rose to 72.70 US cents at 5pm in Wellington from 71.89 cents on Friday in New York last week. It was down from 72.91 cents at 8am and 72.88 cents yesterday. The trade-weighted index is heading for a 0.7 percent weekly gain, tra...

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