NZ dollar maintains its strength against rising US currency as local economy grows

Thu, 20 Mar 2014

By Tina Morrison March 21 (BusinessDesk) – The New Zealand dollar held its ground against a stronger US currency overnight, as investors gained confidence from the South Pacific nation’s strong domestic economy after fourth-quarter growth met expectations. The kiwi edged up to 85.31 US cents at 8am in Wellington, from 85.27 cents at 5pm yesterday. The trade-weighted index increased to 80.04 from 79.90 yesterday. The US dollar index, which measures the greenback against a basket of currencies, advanced after the Federal Reserve signalled US...

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