NZ dollar gains as Europe agrees to 100 bln euro deal for Spanish banks

Sun, 10 Jun 2012

By Hannah Lynch June 11 (BusinessDesk) - The New Zealand dollar gained more than half a US cent after European policymakers agreed to a 100 billion euro rescue package for Spain's struggling banks, stoking demand for high-yielding, or riskier, currencies such as the kiwi. The kiwi rose to 77.53 US cents just before 8am from 76.95 cents at the close of trading in New York on Friday and 76.37 cents at the close of local trading on Friday. The trade-weighted index increased to 70.40 from 70.17. Spain will become the fourth euro-zone nation to...

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