NZ dollar hits 11-week high as rebound in oil prices boosts sentiment

Tue, 29 Dec 2015

By Tina Morrison Dec. 30 (BusinessDesk) - The New Zealand dollar hit an 11-week high as higher oil prices boosted demand for currencies linked to commodities. The kiwi touched 68.86 US cents, and was trading at 68.70 cents at 8am in Wellington, from 68.69 cents at 5pm yesterday. The trade-weighted index touched a fresh six-month high of 74.57 and was at 74.49 at 8am from 74.50 yesterday. Investors favoured currencies exposed to commodities after a recovery in oil prices boosted sentiment. Oil prices rose amid prospects of colder northe...

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