NZ dollar soars, approaching 87 US cents, after RBNZ confirms rate hike path

Thu, 12 Jun 2014

By Tina Morrison June 13 (BusinessDesk) - The New Zealand dollar soared to a five-week high and is edging toward 87 US cents, after the Reserve Bank yesterday raised the benchmark interest for a third time this year and signalled plans for further hikes were intact, increasing the lure of the nation's currency. The kiwi touched 86.99 US cents this morning, and was trading at 86.82 cents at 8am in Wellington, from 86.50 cents at 5pm yesterday and 85.50 cents before the Reserve Bank announcement at 9am yesterday. The trade-weighted index ga...

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