NZ dollar heads for 2% decline as resurgent US yields stoke greenback demand

Fri, 27 Apr 2018

By Paul McBeth April 27 (BusinessDesk) - The New Zealand dollar is heading for a 2 percent drop against the greenback this week as rising yields on US bonds and the prospect for US interest rates to go even higher spurs demand for the world's reserve currency. The kiwi fell to 70.65 US cents as at 5pm in Wellington from 72.07 cents on Friday in New York last week, largely unchanged from 70.56 cents yesterday. The trade-weighted index is heading for a weekly decline of 1.3 percent to 73.44, recovering a little from 73.28 yesterday. In...

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