NZ dollar extends rally into uncharted TWI territory as yen keeps weakening

Tue, 09 Apr 2013

By Paul McBeth April 9 (BusinessDesk) - The New Zealand was propelled to fresh highs on a trade-weighted basis as the Bank of Japan's massive easing programme continues to weaken the yen. The trade-weighted index rose as high as 78.30, and traded at 78.25 at 5pm in Wellington from 77.72 yesterday. The kiwi climbed to 84.31 yen, touching a new five-year high 84.49, from 82.98 yen yesterday. The yen declined to 99.66 per US dollar, its weakest since May 2009, and recently traded at 99.30, after the Bank of Japan yesterday offered to buy 1 tr...

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