NZ dollar holds gains as yield advantage draws investors

Tue, 30 Dec 2014

By Paul McBeth Dec. 30 (BusinessDesk) - The New Zealand dollar held gains in local trading as the country's high interest rates relative to the rest of the world continue to attract investors seeking stable returns. The kiwi traded at 77.72 US cents at 5pm in Wellington, little changed from 77.80 cents at 8am, and up from 77.56 cents yesterday. The trade-weighted index advanced to 79.07 from 78.86 yesterday. New Zealand has been a favoured destination for investors with the Reserve Bank's bias to higher interest rates and annual econom...

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