NZ dollar gains on greenback
SPECULATION over weak inflation in the US has seen the kiwi rise, with expectations it could go higher.
THE New Zealand dollar has risen against the greenback amid speculation inflation is tame enough in the US to prevent the Federal Reserve rushing to restore normal monetary conditions, including interest rates of more than zero.
THE kiwi rose to 66.97 US cents at 5pm in Wellington on Monday, from 66.80 cents at the start of the day and from 66.90 cents in New York on Friday. The trade-weighted index was little changed at 71.57 from 71.56.
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