NZ dollar hits fresh 3-month high amid reports China may scale back US govt bond buying

Wed, 10 Jan 2018

By Paul McBeth Jan. 11 (BusinessDesk) - The New Zealand dollar rose to a new three-month high as reports China may cut its purchases of new US government bonds weighed on Wall Street and the greenback. The kiwi rose as high as 72.28 US cents and traded at 71.90 cents as at 8am in Wellington from 71.64 cents yesterday. The trade-weighted index advanced to 74.82 from 74.66 yesterday. Stocks on Wall Street and the greenback fell while US Treasuries were also sold off, pushing yields higher, on media reports citing unnamed sources that C...

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