(Bloomberg) -- The New Zealand dollar rose to its
strongest in at least 22 years as traders bet the central bank
will raise interest rates tomorrow, adding to the appeal of the
nation's higher yielding assets.
The currency, known as the kiwi, has gained 7 percent this
year as policy makers increased the official cash rate twice to
a record 7.75 percent. There is a 38 percent chance the bank
will raise borrowing costs when it meets in Wellington, from 17
percent on May 24, according to a Credit Suisse index based on
overnight trading of interest rate swaps.
Read more at Bloomberg Currencies News
strongest in at least 22 years as traders bet the central bank
will raise interest rates tomorrow, adding to the appeal of the
nation's higher yielding assets.
The currency, known as the kiwi, has gained 7 percent this
year as policy makers increased the official cash rate twice to
a record 7.75 percent. There is a 38 percent chance the bank
will raise borrowing costs when it meets in Wellington, from 17
percent on May 24, according to a Credit Suisse index based on
overnight trading of interest rate swaps.
Read more at Bloomberg Currencies News
No comments:
Post a Comment