NZ dollar hits two-and-a-half year high after RBNZ’s Spencer signals higher kiwi won’t limit rate hikes

Thu, 27 Mar 2014

By Tina Morrison March 28 (BusinessDesk) – The New Zealand dollar soared to its highest in more than two and a half years after Reserve Bank deputy governor Grant Spencer signalled to an investment conference in Hong Kong that a higher kiwi won’t prevent the bank from future interest rate hikes. The kiwi touched 86.85 US cents overnight, and was trading at 86.72 cents at 8am in Wellington, from 86.25 cents at 5pm yesterday. The trade-weighted index touched a new post-float high of 80.97, and was at 80.88 at 8am from 80.43 yesterday. The New...

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