NZ dollar TWI heads for 1.4% weekly gain as local allure attracts investors

Fri, 01 Jul 2016

By Paul McBeth July 1 (BusinessDesk) - The New Zealand dollar is heading for a 1.4 percent weekly gain on a trade-weighted basis as the country's distance from Europe and the UK and its attractive yield continue to reel in investors chasing better returns. The trade-weighted index rose to 76.38 at 5pm in Wellington from 75.30 on Friday last week and was up from 75.80 yesterday. Among the cross rate gains was a 2.9 percent jump against the British pound to 53.60 pence from 52.11 pence a week ago, up from 52.88 pence yesterday. The Res...

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