NZ dollar at 18-month high vs euro on ECB extension, seen weaker as yield premium shrinks

Fri, 09 Dec 2016

By Jonathan Underhill Dec. 9 (BusinessDesk) - The New Zealand dollar rose to an 18-month high against the euro after the European Central Bank extended its asset purchase programme but is seen at more risk of falling against the greenback as its yield advantage shrinks. The kiwi dollar traded at 67.56 euro cents as at 5pm in Wellington and earlier touched 67.73 cents, the highest since May 2015, from 66.89 cents late yesterday. The local currency fell to 71.69 US cents from 72.10 cents yesterday as the ECB's decision also helped lift the...

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