NZ dollar gains as relatively high yields, economic stability lifts haven appeal

Wed, 26 Sep 2012

By Jonathan Underhill Sept. 27 (BusinessDesk) – The New Zealand dollar rose against most major currencies as more uncertainty in Europe drew offshore investors to the nation’s relatively high yields and economic stability. The kiwi dollar rose to 82.32 US cents from 81.96 cents at 5pm in Wellington yesterday. The trade-weighted index climbed to 73.28 from 72.95. The euro weakened after Spain’s central bank said the indebted nation’s gross domestic product fell this quarter, spurring a selloff in government bonds, underlining the region’s deb...

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