NZ dollar jumps above 88 US cents after Fitch upgrades outlook to positive

Tue, 08 Jul 2014

By Tina Morrison July 9 (BusinessDesk) - The New Zealand dollar jumped above the 88 US cent level it has been flirting with for the past few weeks after credit ratings agency Fitch Ratings reaffirmed the country's AA rating and upgraded its outlook to positive from stable. The kiwi reached 88.05 US cents overnight, its highest level since August 2011 when it touched a record 88.40 cents. The local currency was trading at 87.83 US cents at 8am in Wellington, from 87.63 cents at 5pm yesterday. The trade-weighted index rose to 81.64 from 81....

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