NZ dollar holds gains as inflation heightens anticipation of rate hike, dairy prices rise

Tue, 21 Jan 2014

By Paul McBeth Jan. 22 (BusinessDesk) - The New Zealand dollar held yesterday’s gains after a surprise rise in December inflation heightened expectations the Reserve Bank might hike interest rates as early as next week and as the latest Fonterra Cooperative Group dairy auction showed an increase in prices. The kiwi traded at 83.09 US cents at 8am from 83.21 cents yesterday, holding on to most of yesterday’s gain. The trade-weighted index decreased to 78.91 from 79.09. Traders are pricing in a 46 percent chance the Reserve Bank will lift it...

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