US dollar weakens

The New Zealand dollar gained in late morning trade in London on Monday on speculation that the Reserve Bank of New Zealand will raise interest rates next week after new data showed that inflation there was higher than expected.

The New Zealand currency added 0.8 percent to $0.7912 versus the US dollar and was up 0.5 percent to an otherwise rallying yen, to ¥96.25.

The greenback was also weaker against major currencies.

The euro and yen were each 0.2 percent higher versus the US currency, to $1.3803 against the euro and to ¥121.66 in relation to the yen, while sterling was 0.3 percent higher to $2.0394 against the US dollar.

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