NZ dollar little changed as carry trade stokes demand for Aussie

Sun, 20 Oct 2013

By Tina Morrison Oct. 21 (BusinessDesk) – The New Zealand dollar was little changed as investors seeking to benefit from the carry trade favoured the Australian dollar over its New Zealand counterpart, amid expectations US monetary stimulus will last longer than anticipated. The kiwi was at 84.81 US cents at 8am in Wellington, little changed from 84.87 cents at the New York close Friday and up from 84.60 cents at the 5pm market close in Wellington. The kiwi slipped to 87.68 Australian cents from 87.86 cents on Friday. The US dollar index,...

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