NZ dollar holds gains as business confidence, property values fuel rate hike expectations

Tue, 14 Jan 2014

By Paul McBeth Jan. 14 (BusinessDesk) - The New Zealand dollar held gains in local trading as strong business confidence, increased consumer spending and rising property values fuelled expectations the Reserve Bank will hike interest rates to keep a lid on future inflation threats. The kiwi traded at 83.70 US cents at 5pm in Wellington, little changed from 83.76 cents at 8am, and up from 83.31 cents yesterday. The trade-weighted index advanced to 78.82 from 78.41 yesterday. Investors got more good news on the New Zealand economy today, wi...

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