The New Zealand dollar gained versus the US dollar on reports showing a more-than-expected increase in producer prices, causing speculations that the Reserve Bank of New Zealand may increase interest rates further. Producer prices in New Zealand spiked 1.2 percent in September, whereas the economists were anticipating an increase of 0.6 percent. Additionally, the PPI input grew 0.7 percent, in comparison to the median forecast of a 0.4 percent rise. Experts claim that the rising prices are indicative of inflation pressure in New Zealand. This is expected to push the interest rate, which is already at a high of 3 percent.

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