(Bloomberg) -- New Zealand's dollar headed for a
seventh week of gains after a government report showed retail
sales increased twice as fast as expected in May, prompting bets
the central bank will boost interest rates again.
Retail sales rose 1.2 percent from April, when they fell 1.2
percent, adding to evidence the central bank's three increases to
the benchmark rate this year have failed to curb consumer
spending. The currency pared gains after the central bank said it
will make funds more easily available for intervention.
Read more at Bloomberg Currencies News
seventh week of gains after a government report showed retail
sales increased twice as fast as expected in May, prompting bets
the central bank will boost interest rates again.
Retail sales rose 1.2 percent from April, when they fell 1.2
percent, adding to evidence the central bank's three increases to
the benchmark rate this year have failed to curb consumer
spending. The currency pared gains after the central bank said it
will make funds more easily available for intervention.
Read more at Bloomberg Currencies News
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