NZ dollar holds above 82 US cents, helped by yield demand, relative strength

Mon, 29 Oct 2012

Oct. 29 (BusinessDesk) – The New Zealand dollar held above 82 US cents as the nation’s relatively high yields and economic growth stronger than in Europe or the US helps underpin demand for the currency. The kiwi recently traded at 82.16 US cents from 82.21 cents on Friday in the US. The trade-weighted index was at 73.33 from 73.39. The kiwi dollar may rise this week on the relative appeal of parking funds in the local currency, according to a BusinessDesk survey today. New Zealand 10-year bonds are yielding 3.56 percent, or 182 basis point...

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