European fund managers have been buying the New Zealand dollar, betting it will benefit from an economic recovery, the prospect of interest rate hikes, and a broad-based weakening of the US dollar. London-based asset managers such as Candriam, Ninety One Plc, and Amova Asset Management have recently added the New Zealand dollar to their portfolios. The New Zealand dollar rose nearly 5% in January, becoming the second-best performing G10 currency so far this year. While...

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