NZ dollar heads for 1.8 percent weekly gain as Chinese stimulus talk adds to upbeat local outlook

Fri, 28 Mar 2014

By Paul McBeth March 28 (BusinessDesk) - The New Zealand dollar is heading for a 1.8 percent weekly gain against the greenback and near new post-float highs on a trade-weighted basis amid speculation China’s government will take action to shore up a sluggish economy, adding to an upbeat outlook for local growth. The kiwi rose to 86.85 US cents at 5pm in Wellington from 85.32 cents at the New York close last Friday. It reached a two-and-a-half year high 86.96 US cents, and was up from 86.72 cents at 8am and 86.25 cents yesterday. The trade-w...

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