NZ dollar heads for 1.2 percent gain on TWI as economy grows, speculation on Fonterra payout

Fri, 22 Mar 2013

March 22 (BusinessDesk) - The New Zealand dollar is heading for a 1.2 percent weekly gain on a trade-weighted basis after figures showed the economy grew at almost twice the Reserve Bank's expected pace in the fourth quarter and amid talk Fonterra Cooperative Group may hike its payout next week. The kiwi rose to 76.46 on the trade-weighted index at 5pm in Wellington from 76.16 yesterday. It gained to 83.12 US cents from 82.73 cents yesterday, and is heading for a 0.6 percent weekly gain. The local currency rallied after government figures...

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