Members login
New Zealand Dollar Gains as Jobs Report Spurs Rate Hike Bets
Written by article default Thursday, 04 November 2010 10:43
New Zealand’s Unemployment Rate unexpectedly fell to 6.4 percent in the third quarter, sending the New Zealand Dollar higher against the major currencies on expectations that a recovery in the labor market will encourage the Reserve Bank of New Zealand to raise interest rates. A Credit Suisse gauge tracking priced-in rate hike expectations rose the most in nearly five months to show investors are now betting on 95 basis points in tightening over the next 12 months. The Kiwi added 0.7 percent against a trade-weighted average of its top counterparts.Click here to learn more about DailyFX.