NZ dollar gains after ECB says Spain bailout will boost region’s financial stability

Tue, 12 Jun 2012

By Hannah Lynch June 13 (BusinessDesk) - The New Zealand dollar rose more than half a US cent after the European Central Bank endorsed Spain's financial bailout even as Fitch Ratings said the nation won’t meet budget-deficit goals. The New Zealand dollar rose to 77.63 US cents just before 8am from 77.08 cents yesterday at 5pm. The trade weighted index increased to 70.65 from 70.41 Spain's bailout will boost Europe's financial stability and governments must help dismiss investors' doubts the crisis is spreading, the ECB said in its biannual...

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