NZ dollar TWI climbs to new 13-month high as high yields attract investors

Mon, 04 Jul 2016

By Paul McBeth July 5 (BusinessDesk) - The New Zealand dollar rose to a new 13-month high on a trade-weighted basis as the relatively high yield on offer continues to attract investors wary of low interest rates persisting for longer than expected. The trade-weighted index climbed as high as 77.15, and was at 77.10 at 8am in Wellington from 76.65 yesterday. The kiwi gained to 72.30 US cents from 71.77 cents yesterday, with US markets closed for the Independence Day holiday. The Reserve Bank's 2.25 percent official cash rate stands ou...

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