(Bloomberg) -- The New Zealand dollar rose to the
highest in 22 years after a government report showed prices
gained more than the central bank expected, adding to
speculation policy makers will increase interest rates.
The currency gained for a fourth day and bonds fell as the
inflation figures also beat economists' forecasts, prompting
traders to raise bets the Reserve Bank of New Zealand will
increase the cost of borrowing on July 26. New Zealand's dollar
has advanced the most among the 16 most-traded currencies in the
past 12 months as the central bank boosted rates to 8 percent.
Read more at Bloomberg Currencies News
highest in 22 years after a government report showed prices
gained more than the central bank expected, adding to
speculation policy makers will increase interest rates.
The currency gained for a fourth day and bonds fell as the
inflation figures also beat economists' forecasts, prompting
traders to raise bets the Reserve Bank of New Zealand will
increase the cost of borrowing on July 26. New Zealand's dollar
has advanced the most among the 16 most-traded currencies in the
past 12 months as the central bank boosted rates to 8 percent.
Read more at Bloomberg Currencies News
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