By Garfield Reynolds
April 2 (Bloomberg) -- Investors may profit by selling New Zealand’s dollar against the Canadian currency after New Zealand central bank Governor Alan Bollard said long-term interest rates had increased too much, Citigroup Inc. said in a note to clients.
New Zealand’s currency may decline to 66 Canadian cents, Citigroup said. The New Zealand dollar traded at 71.49 Canadian cents as of 7:26 a.m. in Sydney, after strengthening 11 percent in March.
To contact the reporter on this story: Garfield Reynolds in Sydney at greynolds1@bloomberg.net
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