NZ dollar rebounds to pre-OCR levels as higher yields lure investors

Mon, 09 Feb 2015

By Tina Morrison Feb. 10 (BusinessDesk) - The New Zealand dollar has regained ground lost after the Reserve Bank moved its policy to neutral late last month, as investors are attracted to the country's higher yield in a global economy where other central banks are cutting rates. The kiwi was trading at 74.22 US cents at 8am in Wellington, up from 73.70 cents at 5pm yesterday and close to the 74.44 cent level it was trading at before the Reserve Bank dropped its bias for higher interest rates on Jan. 29 and moved its policy to neutral. The...

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