NZ dollar gains against 'whippy' yen on stimulus speculation as Fed statement awaited

Wed, 27 Jul 2016

By Jonathan Underhill July 27 (BusinessDesk) - The New Zealand dollar rose against the yen after a report that Japan may be preparing to announce a bigger-than-expected stimulus package on Friday. The kiwi rose to 74.16 yen as at 5pm in Wellington, from 73.62 yen late yesterday. The local currency traded at 70.38 US cents from about 70.49 cents yesterday as traders await the results of the Federal Reserve's monetary policy review tomorrow morning NZ time. The yen weakened after Japan's Fuji TV reported that the Ministry of Finance may...

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