NZ dollar trades above 70 US cents for first time in 10 months

Tue, 19 Apr 2016

By Jonathan Underhill April 19 (BusinessDesk) - The New Zealand dollar rose above 70 US cents for the first time since June last year amid speculation the Federal Reserve won't rush to raise interest rates and the Reserve Bank won't hurry to cut its benchmark rate. The kiwi rose as high as 70.02 US cents and traded at 69.97 cents as at 5pm in Wellington from 69.21 cents late yesterday. The trade-weighted index reached 73.50, matching the level it reached on Feb. 26, from 73.06 yesterday. The kiwi has joined the Australian and Canadian...

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