New Zealand Dollar Outperforming Against The Crosses

 
   By Rebecca Howard 
 

        WELLINGTON--The New Zealand dollar continued to outperform on the last day of the trading year and could push higher over the long holiday weekend.
        The Kiwi remains strong against the Australian dollar and has gained against the greenback in light of overnight U.S. dollar weakness.
        The New Zealand dollar was at US$0.7833 versus US$0.7779 late Tuesday and at A$0.9574 versus A$0.9570. The New Zealand dollar will end the year about 4% higher against the Australian dollar and 5% weaker against the U.S. dollar. New Zealand markets will be closed Thursday and Friday for the New Year's holiday.
        The final December reading of the HSBC Holdings and Markit Economics manufacturing purchasing managers index for China later Wednesday could affect the currency, said Murray Hindley, foreign-exchange manager at ANZ Bank. China is a key trading partner for New Zealand and any data is closely watched.
        Mr. Hindley added that the Kiwi continues to push toward a new post-float high against the Australian dollar and is also higher against the other crosses. He said it could see further gains in a "seasonal push" over the next few days.
        Write to Rebecca Howard at rebecca.howard@wsj.com
        (END) Dow Jones Newswires

        December 30, 2014 19:39 ET (00:39 GMT)

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