Hot Topics: Budget 2013 | Unitary plan
Dollar keeps breaking records with rise
The New Zealand dollar has hit a new post-float high of 83.30USc on the back of strong data in Europe and the United States.
New Zealand dollars were recently changing hands for 83.14USc, up from 82.71USc yesterday.
Australian and New Zealand dollars were both strong performers after demand for growth-linked currencies surged following stronger than expected job data from the US.
Moves by the European Central Bank to raise its official interest rate to 1.5%, up from 1.25% also pushed currencies other than the USD higher.
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Comments and questions2
There is much more to this story than the few lines offers. How about writing something on the causes and a some quotes of the consequences on exports, tourism and productive Investment, etc? Much of the rise is merely refleclting the US dollars prominence in the race to the bottom of fiat currencies, but a significant and unhealthy reason for the rise is also the result of golbal hedge funds speculating with our currency.
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