NZ dollar climbs almost 1 US cent on hopes of Spanish bank bailout, EU stimulus

Wed, 06 Jun 2012

By Hannah Lynch June 07 (BusinessDesk) - The New Zealand dollar rose almost one US cent on optimism European policymakers will act to stimulate the region’s economy and provide aid for Spanish banks while the Federal Reserve said the US continues to grow at a modest pace. The New Zealand dollar increased to 76.98 US cents at 8am from 76.22 cents yesterday at 5pm. The trade weighted index rose to 69.99 from 69.48. European Central Bank President Mario Draghi said policymakers were “ready to act” after the central bank left its benchmark rate...

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