Markets

New Zealand dollar hits 3-year high on Fitch outlook lift

Published July 8, 2014 Updated July 8, 2014 10:30am

1 min

By Imad Uddin

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LONDON: The New Zealand dollar jumped to an almost 3-year high against its U.S. counterpart on Tuesday after Fitch Ratings upgraded its outlook for the country's short and long-term debt rating, citing fiscal consolidation and improving growth.

Dealers said the move, peaking at $0.8806, had taken out a number of option barriers at $0.8800. The kiwi was trading bang on that round figure 20 minutes after the Fitch announcement.

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