(Bloomberg) -- New Zealand's dollar may gain a
fourth day, cementing its place as the best-performing major
currency the past year, as investors are lured to the nation's
higher-yielding assets by the prospect of another rate increase.
The currency, known as the kiwi, surged to 80.65 cents
today, the highest since being allowed to trade freely in 1985.
New Zealand's dollar has gained 30 percent over the past 12
months as central bank Governor Alan Bollard raised interest
rates three times to a record 8 percent. There is a 66 percent
chance he will increase rates at his monetary policy review July
26, according to a Credit Suisse index of interest rate swaps.
Read more at Bloomberg Currencies News
fourth day, cementing its place as the best-performing major
currency the past year, as investors are lured to the nation's
higher-yielding assets by the prospect of another rate increase.
The currency, known as the kiwi, surged to 80.65 cents
today, the highest since being allowed to trade freely in 1985.
New Zealand's dollar has gained 30 percent over the past 12
months as central bank Governor Alan Bollard raised interest
rates three times to a record 8 percent. There is a 66 percent
chance he will increase rates at his monetary policy review July
26, according to a Credit Suisse index of interest rate swaps.
Read more at Bloomberg Currencies News
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