NZ dollar tests 87 US cents overnight following RBNZ interest rate hike

Mon, 16 Jun 2014

By Tina Morrison June 17 (BusinessDesk) - The New Zealand dollar tested the 87 US cent level overnight for the second time since the Reserve Bank tightened monetary policy last week, as low volatility in currency markets kept the nation's relative high interest rates in demand. The kiwi touched a high of 86.99 US cents overnight, a level it last tested on Friday morning after the Reserve Bank affirmed its rate hike track on Thursday. The local currency was little changed at 86.78 US cents at 8am in Wellington from 86.84 cents at 5pm yeste...

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