NZ dollar soars above 85 US cts as Fed expected to hold monetary stimulus for longer

Thu, 17 Oct 2013

By Tina Morrison Oct. 18 (BusinessDesk) – The New Zealand dollar soared above 85 US cents for the first time in five months as investors bet delays caused by the US government shutdown means the Federal Reserve will keep monetary stimulus in place for longer. The kiwi touched 85.24 US cents early this morning, and was trading at 85.02 cents at 8am in Wellington, from 84.24 cents at the 5pm market close yesterday. The trade-weighted index advanced to 78.31 from 78.15 yesterday. The US dollar index, which measures the greenback against a bask...

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