NZ dollar little changed at about 70 US cents as surge in US bond yields saps kiwi's appeal

NZ dollar little changed at about 70 US cents as surge in US bond yields saps kiwi's appeal
Jonathan Underhill
By Jonathan Underhill Nov. 21 (BusinessDesk) - The New Zealand dollar was little changed at about 70 US cents and is poised to extend its 5.2 percent decline of the past two weeks as surging US bond yields sap the appeal of returns from the kiwi. The local currency traded at 69.99 US cents as at 5pm in Wellington from 70.09 cents in late New York trading on Friday. The trade-weighted index was at 77.29 from 77.23.  The US dollar climbed to the highest level in about six months against the yen today, while the yield on the benchmark US...