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N.Z. Dollar Gains Versus Peers on Rate Bets Before Housing Data

New Zealand’s dollar climbed versus most of its major peers before data forecast to show building permits rose to a five-year high, after the central bank said a housing boom could force it to raise interest rates.

The nation’s currency, nicknamed the kiwi, held its longest stretch of weekly gains in two years against the so-called Aussie dollar on bets the spread to the Reserve Bank of Australia’s benchmark rate will narrow. New Zealand’s currency extended a weekly advance against the greenback after data showed the U.S. economy grew less than expected. Australian bond yields fell to the lowest since November.