(Bloomberg) -- The New Zealand dollar headed for a fourth weekly decline as the yield advantage on the nation's debt over the U.S. shrank to near a one-month low.
The spread between New Zealand's two-year debt and similar- maturity U.S. Treasuries held near the lowest since April 13 as traders reduced bets for an interest-rate cut in the U.S. New Zealand's currency, or kiwi, has gained 17 percent over the past year, supported by borrowing costs that are 2.5 percentage points more than the 5.25 percent in the U.S.
Read more at Bloomberg Currencies News
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