NZ dollar gains as G20 preference for growth over austerity boosts emerging markets

Mon, 22 Jul 2013

By Tina Morrison July 23 (BusinessDesk) – The New Zealand dollar gained as the Group of 20 nations signalled a preference for growth over austerity, bolstering demand for emerging market currencies. The kiwi rose to 79.58 US cents from 79.32 cents at the 5pm market close in Wellington yesterday. The trade-weighted index edged up to 75.15 from 75.08 yesterday. The New Zealand dollar tracked so-called emerging market currencies up after the G20 nations pledged at a meeting in Moscow at the weekend to put growth before austerity, seeking to rev...

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