NZ dollar touches two-week high ahead of expected interest rate hike

Wed, 11 Jun 2014

By Tina Morrison June 12 (BusinessDesk) - The New Zealand dollar rose to its highest in more than two weeks ahead of an expected hike in interest rates by the Reserve Bank today. The kiwi touched 85.74 US cents overnight, and was trading at 85.53 cents at 8am in Wellington, from 85.48 cents at 5pm yesterday. The trade-weighted index was unchanged at 79.79. Reserve Bank governor Graeme Wheeler is expected to lift the official cash rate a quarter point to 3.25 percent this morning, although opinion is divided on whether he will affirm hi...

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