NZ dollar holds near five-week high on lure of higher rates

Fri, 13 Jun 2014

By Suze Metherell June 13 (BusinessDesk) - The New Zealand dollar held near a five-week high after the Reserve Bank's affirmation that it intends to keep raising interest rates briskly, making the kiwi a standout in a world where major central banks have rates near zero. The kiwi traded at 86.67 US cents at 5pm in Wellington, having reached as high as 86.99 cents, from 86.82 cents at 8 am. The trade weighted index weakened to 80.68 from 80.83 this morning. Reserve Bank governor Graeme Wheeler hiked rates a further 25 basis points to 3....

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