NZ dollar gains as ECB's Draghi sets bond buying programme

Thu, 06 Sep 2012

By Hannah Lynch Sept. 7 (BusinessDesk) - The New Zealand dollar rose after European Central Bank President Mario Draghi announced a bond-purchase plan to cap borrowing costs in the area’s most-indebted nations, stoking optimism the region will get through its sovereign debt crisis and pushing stock markets higher. The New Zealand dollar rose to 80.10 US cents at 8am in Wellington up from 79.56 cents yesterday at 5pm. The trade weighted index increased to 72 from 71.62. Draghi kept his pledge to do "whatever it takes" to safeguard the euro a...

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