NZ dollar climbs to 5-week high on TWI basis as euro-zone, UK look shaky

Wed, 10 Jul 2013

By Paul McBeth July 10 (BusinessDesk) - The New Zealand dollar climbed above 75 on a trade-weighted basis for the first time in five weeks as weakness in the European and British economies comes back into focus. The kiwi TWI rose as high as 75.40, trading at 75.16 at 5pm in Wellington from 74.69 yesterday. It was little changed at 78.51 US cents at 5pm from 78.60 cents at 8am and up from 78.03 cents yesterday. Investor wariness of Europe has re-emerged after Italy had its credit rating cut this week and Portugal’s government becomes increa...

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