NZ dollar jumps to three-week high after RBNZ says interest rates to rise next year

Thu, 12 Sep 2013

By Tina Morrison Sept. 13 (BusinessDesk) – The New Zealand dollar jumped to a three-week high after the Reserve Bank said interest rates were likely to rise next year, increasing the lure of the nation’s higher yielding assets for overseas investors. The kiwi rose as high as 81.57 US cents early this morning, and traded at 81.39 cents at 8am in Wellington, from 81.30 cents at the 5pm market close yesterday. The trade-weighted index advanced to 76.53 from 76.42 yesterday. New Zealand Reserve Bank governor Graeme Wheeler yesterday kept the be...

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