NZ dollar rises to four-month high as lure of higher interest rates attracts investors

Tue, 17 Sep 2013

By Tina Morrison Sept. 18 (BusinessDesk) – The New Zealand dollar rose to a four-month high as investors are attracted by the outlook for rising interest rates amid an increased risk appetite and as expectations are pared back for Federal Reserve tapering of monetary stimulus. The kiwi rose as high as 82.48 US cents, trading at 82.37 cents at 8am in Wellington from 81.66 cents at the 5pm market close yesterday. The trade-weighted index gained to 77.10 from 76.58 yesterday. The New Zealand dollar was the best performing currency in Northern...

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