NZ dollar extends gains, hits 2 1/2-yr high vs U.S. dollar

WELLINGTON, April 10 Wed Apr 9, 2014 8:16pm EDT

WELLINGTON, April 10 (Reuters) - The New Zealand dollar hit a 2 1/2-year high against the U.S. dollar on Thursday as investors speculated its rate advantage against the greenback would increase after Federal Reserve minutes suggested U.S. rates would stay low for months to come.

The kiwi climbed to $0.8735, its highest level since August 2011. It rose to 80.99 against a currency basket , according to Reuters data, just shy of a post-float high around 81.03 hit in late March. (Reporting by Naomi Tajitsu; Editing by Paul Tait)

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