NZ dollar little changed as investors cash in gains; markets struggle with direction

Thu, 18 Apr 2013

By Paul McBeth April 18 (BusinessDesk) - The New Zealand dollar was little changed in local trading as investors cashed in gains amid growing uncertainty over the next direction for global financial markets. The kiwi traded at 85.52 US cents at 5pm in Wellington from 84.29 cents at 8am and 84.61 cents yesterday. The trade weighted index increased to 78 from 77.80 yesterday. Since the start of the new quarter, traders have been crystalising profits after significant multi-month gains in high-yielding assets such as stocks and risk sensitive...

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