NZ dollar gains after Moody's affirms investment-grade Spanish credit rating

Wed, 17 Oct 2012

By Paul McBeth Oct. 17 (BusinessDesk) - The New Zealand dollar gained after Moody's Investments Service affirmed an investment grade rating for the heavily-indebted Spain, spurring investors to ditch the greenback and seek higher-yielding, or riskier, assets. The kiwi rose to 81.72 US cents at 5pm in Wellington from 81.28 cents at 8am and 81.40 cents yesterday. The trade-weighted index slipped to 72.69 from 72.80 yesterday. The Dollar Index, a measure of the greenback against a basket of currencies, fell to a month-low 79.15 as investors'...

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