NZ dollar heads for 1.5 percent weekly gain on prospect of rate hikes

Fri, 13 Sep 2013

By Paul McBeth Sept. 13 (BusinessDesk) - The New Zealand dollar is heading for a 1.4 percent weekly gain after the Reserve Bank yesterday said it will probably start hiking rates next year, though the prospect of the US Federal Reserve unwinding its money printing programme may prompt a weaker kiwi next week. The kiwi rose to 81.15 US cents at 5pm in Wellington from 79.96 cents at the start of the week, and down from 81.39 cents at 8am and 81.39 cents yesterday. The trade-weighted index was little changed at 76.37 from 76.42 yesterday, and...

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