The New Zealand dollar held above 88 US cents and may test its post-float high this week as traders prepare for testimony from US Federal Reserve chair Janet Yellen and local data that’s expected to confirm inflation is accelerating. The kiwi traded at 88.03 USA cents at 8am in Wellington, little changed from the New York and Wellington closes on Friday last week. The …

US Federal Reserve Chair Janet Yellen’s testimony to Congress will offer a key focus in the coming days, while investors will also try to gauge whether earnings support the improved outlook for the world’s biggest economy. On Tuesday, Yellen is scheduled to deliver her semi-annual policy testimony to the Senate Banking Committee, and the next day to the House Financial …

New Zealand shares declined, tracking US and European equities lower as sentiment waned on concern about the euro-zone’s financial stability after a major Portuguese bank missed debt payments. The NZX 50 Index slid 27.421 points, or 0.535 percent, to 5,100.592. Within the index, 30 stocks fell, nine rose, and 11 were unchanged. Turnover was $81.3 million. In northern hemisphere trading overnight, …