(Bloomberg) -- The New Zealand dollar may rise to a
new 22-year high as investors test the central bank's currency
intervention policy and are attracted to the nation's higher-
yielding assets.
The currency yesterday rose to its highest since being
allowed to trade freely in 1985, and above the level it reached
before the central bank sold New Zealand dollars June 11,
calling the gains ``unjustified.'' The currency has gained 25
percent against the U.S. dollar the past 12 months, as a record
8 percent benchmark rate lures investors to the country's debt.
Read more at Bloomberg Currencies News
new 22-year high as investors test the central bank's currency
intervention policy and are attracted to the nation's higher-
yielding assets.
The currency yesterday rose to its highest since being
allowed to trade freely in 1985, and above the level it reached
before the central bank sold New Zealand dollars June 11,
calling the gains ``unjustified.'' The currency has gained 25
percent against the U.S. dollar the past 12 months, as a record
8 percent benchmark rate lures investors to the country's debt.
Read more at Bloomberg Currencies News
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