NZ dollar climbs more than half a US cent after Germany's Merkel backs ECB bond buying

Thu, 16 Aug 2012

By Hannah Lynch Aug 17 (BusinessDesk) - The New Zealand dollar rose after German Chancellor Angela Merkel provided a boost to the euro-zone, signalling her conditional support to the European Central Banks bond buying programme. The New Zealand dollar rose as high as 81.16 US cents overnight, trading at 80.97 at 8am up from 80.59 cents at 5pm yesterday. The trade weighted index increased to 72.95 from 72.81. Merkel reiterated her commitment to working with the ECB to resolve the region’s debt crisis and to help reduce the borrowing costs o...

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