NZ dollar gains as high yields draw demand in face of Asia weakness

Fri, 13 Jul 2012

By Paul McBeth July 13 (BusinessDesk) - The New Zealand dollar rose in local trading as investors looked for assets that are still making positive returns in the face of slowing Asian economies. The kiwi rose to 79.19 US cents at 5pm from 79.01 cents at 8am, and was down from 79.31 cents yesterday. The trade-weighted index was little changed at 72.17 from 72.21 yesterday. Gross domestic product in China expanded 7.6 percent in the three months ended June 30 from a year earlier, according to the National Bureau of Statistics. That was in l...

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