NZ dollar rises above 85 US cents as equity markets rise, risk sentiment lifts

Tue, 09 Apr 2013

April 10 (BusinessDesk) – The New Zealand dollar rose above 85 US cents for the first time in two months as global equity markets rose, local business confidence improved and Federal Reserve chairman Ben Bernanke gave no hint that quantitative easing could end. The kiwi advanced to 85.21 US cents, rising above 85 cents for the first time since Feb. 15, from 84.86 cents at 5pm in Wellington yesterday. The trade-weighted index gained to 78.35, having earlier touched a post-float record 78.46, from 78.24 yesterday. On Wall Street, the Dow Jones...

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