NZ dollar falls vs yen as Bank of Japan delivers less stimulus than expected

Fri, 29 Jul 2016

By Jonathan Underhill July 29 (BusinessDesk) - The New Zealand dollar fell against the yen after the Bank of Japan announced additional monetary stimulus measures that were more modest than some in the market were expecting, driving up its currency. The kiwi fell to a three-week low of 73.10 yen and was at 73.33 yen at 5pm in Wellington, from 74.45 yen late yesterday, after the Bank of Japan kept its policy rate at -0.1 percent while almost doubling its target for purchases of exchange-traded funds. The currency traded at 70.88 US cents,...

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