NZ dollar gains as rally in stocks show sell-off overdone

Mon, 20 Oct 2014

By Jonathan Underhill Oct. 20 (BusinessDesk) - The New Zealand dollar gained with equity markets across Asia on speculation investors who sent shares lower last week were too gloomy about the prospects for global growth. The kiwi rose to 79.45 US cents from 79.22 cents at the start of the day and from 79.12 cents in late New York trading on Friday. The trade-weighted index rose to 77.15 from 76.84. Japan's Nikkei 225 Index rose 3.5 percent in afternoon trading, while Australia's S&P/ASX 200 Index gained 1 percent and New Zealand's NZX...

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