NZ dollar hits 7-week high amid speculation Fed will add stimulus to US economy

Tue, 19 Jun 2012

By Hannah Lynch June 20 (BusinessDesk) - The New Zealand dollar rose to a seven-week high against the greenback amid speculation the Federal Reserve may announce fresh stimulus measures to boost the world's largest economy. The New Zealand dollar rose to 79.75 US cents just before 8am from 77.31 cents yesterday at 5pm. That's the highest the currency has traded since May 3. The trade weighted index increased to 71.80 from 71.63. The Federal Open Market Committee meet on Wednesday in Washington, where markets are expecting the central bank w...

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