NZ dollar rises to 2-week high as Fed minutes fuel QE3 expectations

Thu, 23 Aug 2012

By Paul McBeth Aug. 23 (BusinessDesk) - The New Zealand dollar rose to a two-week high in local trading, extending its rally after minutes for the last Federal Reserve policy makers' meeting fuelled expectations the central bank will embark on a third round of money printing to revive the world's biggest economy. The kiwi rose as high as 81.85 US cents, trading at 81.71 cents at 5pm in Wellington from 81.32 cents at 8am and 80.84 cents yesterday. The trade-weighted index advanced to 73.16 from 72.73 yesterday. The Dollar Index, a measure o...

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