Kiwi Dollar Reaches 6-Month High Versus U.S. Counterpart on Fed
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New Zealand’s dollar rose to a six-month high versus its U.S. counterparts after the Federal Reserve’s plan to add to bond purchases spurred demand currencies of nations with higher returning assets.
The Australian currency reached to a one-month high as stocks and commodities assets rallied after the U.S. central bank said it will expand its holdings of long-term securities with open-ended purchases of $40 billion of mortgage debt a month. The so-called kiwi was also supported after the Reserve Bank of New Zealand kept its benchmark interest rate unchanged Sept. 12.