NZ dollar gains as low volatility encourages investors to seek bigger returns

Thu, 27 Sep 2012

By Paul McBeth Sept. 27 (BusinessDesk) - The New Zealand dollar gained in local trading, snapping three days of declines, as low volatility gave investors the confidence to seek bigger returns from the nation's relatively high yields. The kiwi rose to 82.56 US cents at 5pm in Wellington from 82.32 cents at 8am and 81.96 cents yesterday. The trade-weighted index advanced to 73.40 from 72.95 yesterday. The Chicago Board Options Exchange’s Volatility Index, commonly known as Wall Street’s fear gauge, rose 15 percent to a two-week high 16.81 a...

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