BLBG:New Zealand’s Dollar Advances After Reserve Bank Holds Cash Rate
The New Zealand dollar advanced after the Reserve Bank left its official cash rate at a record- low 2.5 percent.
The so-called kiwi climbed against all 16 of its major peers after RBNZ Governor Alan Bollard said the economy was “showing signs of recovery.” The Australian currency gained for a second day versus the U.S. dollar after Federal Reserve Chairman Ben S. Bernanke’s comments that he’s prepared to “do more” to boost the economy raised concern more monetary stimulus will debase the greenback.
The New Zealand dollar rose to 81.71 U.S. cents as of 7:22 a.m. in Sydney, from 81.34 cents yesterday in New York. It climbed 0.4 percent to 66.41 yen. Australia’s currency strengthened to $1.0364 from $1.0353 and advanced to 84.27 yen from 84.22 yen.
To contact the reporter on this story: Garfield Reynolds in Sydney at greynolds1@bloomberg.net
To contact the editor responsible for this story: Edward Johnson at ejohnson28@bloomberg.net
