New Zealand Dollar Rises As Central Bank Hints At More Easing

By Markets MarketWatch Pulse

The New Zealand dollar strengthened against the U.S. dollar Wednesday after the Reserve Bank of New Zealand, the country's central bank, said the currency was too strong, and that investors can expect more monetary policy easing in the future. The kiwi rose to 69.29 U.S. cents after the announcement -- its strongest level since Friday -- up from 68.42 cents shortly beforehand and 68.94 cents late Tuesday in New York. The currency has risen slightly against the U.S. dollar since the beginning of the year, benefiting from a rebound in commodity prices.

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