Anybody else considering moving to New Zealand . . . or at least swapping our dollars for theirs?
The U.S. dollar was on the run in Asia on Thursday after a ratings warning from Moody's and a hint of further policy easing from the Federal Reserve unleashed a wave of panic selling, much to the relief of the hard-pressed euro. The New Zealand dollar was a stand out performer, soaring to 30-year highs after data showed the economy grew far faster than expected in the first quarter.Dollar in full retreat, NZD storms 30-year peak | Reuters
The kiwi flew to $0.8491, a rise of 3.7 percent in just two sessions, as the upbeat news revived the chance of a rate hike before year-end. That stood in stark contrast to the United States, where Fed Chairman Ben Bernanke had canvassed the idea of further quantitative easing should the economy stall