The New Zealand dollar is on the turn

The New Zealand dollar has been on a roll. It rose by 15% against its US counterpart between September 2013 and hit $0.88 last month, the highest level since it became a freely floating currency in the mid-1980s.

Underlying the surge is the strength of New Zealand’s economy, which “has ridden a wave of dairy exports, selling milk and butter to Asia’s increasingly protein-hungry consumers”, says Josh Noble in the FT.

Buttressed by a frothy housing market, GDP growth reached almost 3% last year, prompting the central bank to raise interest rates for the first time in four [...]

Want to read this article now?

MoneyWeek magazine

Latest issue:

Magazine cover
Going bust

What happens when countries default?

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 4 FREE Issues

Vote in the MoneyWeek Readers' Choice Awards

Vote for your favourite financial services companies in the inaugural MoneyWeek Awards, and you could win a year's subscription to MoneyWeek magazine. Find out more and vote here.


Which investment platform?

When it comes to buying shares and funds, there are several investment platforms and brokers to choose from. They all offer various fee structures to suit individual investing habits.
Find out which one is best for you.