NZ dollar gains after Spain retains rating, as EU summit looms

Wed, 17 Oct 2012

By Jonathan Underhill Oct. 18 (BusinessDesk) – The New Zealand dollar rose after Moody’s Investors Service affirmed Spain’s investment grade credit rating, stoking risk appetite as traders position themselves ahead of the European Union summit starting Thursday in Europe. The kiwi dollar rose to 82.17 US cents from 81.73 cents at 5pm in Wellington yesterday as the Spanish news helped stoke demand for high yielding, or riskier, assets. The trade-weighted index climbed to 72.93 from 72.70. The US dollar fell against most of its trading peers a...

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