NZ dollar climbs to 7-month high vs. yen on weak Japan exports

Wed, 21 Nov 2012

Nov. 22 (BusinessDesk) - The New Zealand dollar rose to a seven-month high against the yen after Japan’s trade deficit widened, stoking concern the world’s third-biggest economy is heading back into recession. The kiwi rose as high as 67.13 yen, the highest since early April, from 66.50 yen yesterday. The local currency was little changed at 81.30 US cents while the trade-weighted index slipped to 73.13 from 73.19. Japan posted its fourth straight monthly trade deficit in October, with a gap of 549 billion yen, compared to a forecast deficit...

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