NZ dollar retreats on risk sentiment after touching 11-month high following interest rate hike

Thu, 13 Mar 2014

By Tina Morrison March 14 (BusinessDesk) – The New Zealand dollar touched an 11-month high after the Reserve Bank raised interest rates and signalled more hikes ahead, before the currency retreated on concern about escalating tensions in the Ukraine and slower than expected growth in China. The kiwi hit 86.06 US cents early this morning, its highest level since April last year, and was trading lower at 85.23 cents at 8am in Wellington from 85.61 cents at 5pm yesterday. The trade-weighted index, which measures the kiwi against the currencies...

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