N.Z. Dollar Gains for Sixth Week After Unexpected Trade Surplus
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New Zealand’s dollar rose for a sixth straight week after a report showed the nation unexpectedly posted its first trade surplus in five months.
The so-called kiwi held a five-day advance against most of its major peers as Reserve Bank of New Zealand Governor Alan Bollard said the nation’s economy can weather a global slowdown. Demand for New Zealand’s dollar and its Australian counterpart was limited on concern Greece is struggling to reach agreement with its creditors on a debt-swap arrangement, curbing demand for higher-yielding assets.