NZ dollar gains as FOMC minutes show desire for more stimulus

Wed, 22 Aug 2012

By Jonathan Underhill Aug. 23 (BusinessDesk) – The New Zealand dollar gained after minutes of the last Federal Reserve policy makers’ meeting showed a widespread desire for more stimulus to underpin the world’s biggest economy. The greenback tumbled against the yen after the minutes were released. The New Zealand dollar rose to 81.32 US cents from 80.84 cents at 5pm in Wellington yesterday. The trade-weighted index edged up to 72.85 from 72.73. Minutes of the Federal Open Market Committee’s July 31-to-Aug. 1 meeting say many committee member...

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