NZ dollar heads for 3.7% gain vs. greenback as traders reassess Fed rate hike bets

Fri, 09 Oct 2015

By Paul McBeth Oct. 9 (BusinessDesk) - The New Zealand dollar is heading for a 3.7 percent gain this week as investors reassess their bets on when the Federal Reserve will start hiking interest rates, and calmer global markets stoke demand for riskier assets such as equities and commodities. The kiwi rose to 66.74 US cents at 5pm in Wellington from 64.34 cents on Friday in New York last week. It was little changed from 66.61 cents at 8am, and up from 66.05 cents yesterday. The trade-weighted index advanced to 71.52 from 71.04 yesterday, a...

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