NZ dollar rallies as investors chase yield after ECB rate cut; US jobs data looms

Fri, 06 Jun 2014

By Paul McBeth June 6 (BusinessDesk) - The New Zealand dollar rose as investors sought bigger returns after the European Central Bank cut its key deposit rate into negative territory, and ahead of US employment figures. The kiwi traded at 84.86 US cents at 5pm in Wellington from 84.99 cents at 8am, up from 84.41 cents yesterday. The trade-weighted index advanced to 79.11 from 78.90 yesterday. The local currency was little changed on the week, from 84.97 US cents last Friday in New York and 79.19 on the TWI. The ECB became the first maj...

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