NZ$ rises on rates comments by central bank governor

London

NEW Zealand dollar was the biggest gainer among major currencies on Thursday, rising 0.7 per cent after a speech by Reserve Bank governor Graeme Wheeler added to speculation that the bank would raise interest rates next year.

With all eyes fixed on a European Central Bank meeting widely expected to extend its programme of quantitative easing, the euro was around a quarter of a per cent higher against the US dollar. The yen also gained, prodding the US dollar index to a three-week low.