NZ dollar extends rally as Spanish bank bailout stokes Asian equities

Mon, 11 Jun 2012

By Paul McBeth June 11 (BusinessDesk) - The New Zealand dollar extended its rally in local trading as Europe's 100 billion euro bailout for Spain's struggling banking sector stoked investor confidence, and pushed up stock markets around Asia. The kiwi rose to 77.65 US cents at 5pm from 77.53 cents at 8am, and was up from 76.95 cents on Friday in New York. The trade-weighted index gained to 70.48 from 70.17 last week. Stock across Asia rallied in afternoon trading after Spain secured a regional bailout for its banks, with Japan's Nikkei 225...

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