Markets

NZ dollar extends gains, hits 2 1/2-year high vs US dollar

Published April 10, 2014 Updated April 10, 2014 05:32am

1 min

By Shoaib Ur Rehman

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WELLINGTON: The New Zealand dollar hit a 2 1/2-year high against the US dollar on Thursday as investors speculated its rate advantage against the greenback would increase after Federal Reserve minutes suggested US rates would stay low for months to come.

The kiwi climbed to $0.8735, its highest level since August 2011.

It rose to 80.99 against a currency basket , according to Reuters data, just shy of a post-float high around 81.03 hit in late March.

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