NZ dollar rises as commodity currencies return to favour after oil gains

Mon, 22 Feb 2016

By Tina Morrison Feb. 23 (BusinessDesk) - The New Zealand dollar rose as investors favoured commodity linked currencies after oil advanced on optimism a decrease in supply would bolster prices. The kiwi increased to 67.10 US cents at 8am in Wellington, from 66.51 cents at 5pm yesterday. The trade-weighted index gained to 72.83 from 72.28 yesterday. Equity markets rose as the price of oil and other commodities pushed higher, signalling investors are feeling more upbeat about the outlook for higher risk assets. That bolstered demand for ...

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