NZ dollar heads for 5.8 percent gain in 2012 on higher interest rates; fiscal cliff unresolved

Mon, 31 Dec 2012

By Paul McBeth Dec. 31 (BusinessDesk) - The New Zealand dollar rose as traders squared up their year-end positions as negotiations in the US to stave off legislated tax hikes and spending cuts that automatically kick in on Jan. 1 remain unresolved. That kiwi is heading for a 5.8 percent annual gain on its relative yield advantage. The kiwi rose to 82.33 US cents at 1.30pm in Wellington from 81.94 cents at 8.30am and 81.93 cents on Friday in New York. The trade-weighted index advanced to 73.82 from 73.55 last week, and is heading for a 6.8 pe...

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