NZ dollar jumps higher as oil price gains buoy demand for commodity currencies

Tue, 12 Apr 2016

By Tina Morrison April 13 (BusinessDesk) - The New Zealand dollar touched its highest level in almost two weeks as a gain in oil lifted sentiment for commodity currencies. The kiwi touched 69.25 US cents and was trading at 69.13 cents at 8am in Wellington, from 68.82 cents at 5pm yesterday. The trade-weighted index rose to 72.75 from 72.51 yesterday. Oil prices rose after the Interfax news agency reported Saudi Arabia and Russia reached a consensus on an output freeze, citing an unidentified “informed diplomatic source” in Doha, and th...

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