iBankCoin
Joined Nov 11, 2007
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Kiwi Trades Higher on Expectations The Country Will Have Excess Capital

Wish we could say that….

“The New Zealand dollar rose for a third day and bond yields fell after the government said the budget will return to surplus in four years, helping spur demand for the nation’s assets.

The so-called kiwi strengthened versus 13 of its 16 major counterparts as Finance Minister Bill English said in the budget released today the operating surplus will be NZ$1.3 billion ($1.03 billion) in the year ended June 2015. The New Zealand and Australian currencies were also boosted after Federal Reserve minutes released yesterday signaled U.S. interest rates will remain near zero to stimulate growth.”

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