N.Z. Dollar Rises From 4-Week Low on Risk Appetite; Aussie Gains
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The New Zealand dollar rose from the lowest level in more than four weeks against its U.S. counterpart as risk appetite increased after American retail sales rose more than forecast in September.
New Zealand’s currency, nicknamed the kiwi, and the Australian dollar advanced versus most major currencies as global stocks increased. The Aussie’s gains were tempered by Reserve Bank of Australia Governor Glenn Stevens’ statement that there is scope to further lower interest rates. The central bank will release minutes of its October meeting later.