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New Zealand Outlook Raised to Positive

New Zealand’s credit outlook was raised to positive from stable by Fitch Ratings, which cited the nation’s improving fiscal situation and supportive economy. The currency climbed to an almost three-year high.

Fitch affirmed its long-term foreign currency rating at AA, two grades below the top score. The New Zealand dollar touched 88.06 U.S. cents following the announcement, the highest since August 2011.