NZ dollar heads for 1.3 percent weekly gain as local data fuels rate hike expectations

Fri, 28 Feb 2014

By Paul McBeth Feb. 28 (BusinessDesk) - The New Zealand dollar is heading for a 1.3 percent weekly gain after a string of upbeat local data heightened investors’ anticipation for future interest rate hikes. The kiwi rose as high as 84.13 US cents, the highest since Jan. 14, trading at 83.90 cents at 5pm in Wellington from 82.79 cents at the New York close last week, and was up from 83.77 cents at 8am and 83.24 cents yesterday. The trade-weighted index rose to 78.84 from 78.32 yesterday. The TWI is heading for a 1 percent weekly gain from 78...

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