NZ dollar TWI hits fresh record as investors lured to higher yields

Fri, 27 Jun 2014

By Tina Morrison June 27 (BusinessDesk) - New Zealand's trade-weighted index touched a fresh record as investors take advantage of borrowing in lower interest rate markets overseas to invest in New Zealand's higher yielding market. The TWI reached an all-time high of 81.71 and was at 81.52 at 5pm in Wellington, from 81.19 at 8am and 81.42 at 5pm yesterday. The New Zealand dollar touched a fresh three-year high of 87.94 US cents and was at 87.79 cents at 5pm from 87.59 cents at 5pm yesterday. Demand for New Zealand's currency has steppe...

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