NZ dollar gains as yen falls to 7-year low vs. greenback

Thu, 20 Nov 2014

Nov. 20 (BusinessDesk) - The New Zealand dollar rose as the yen fell to a seven-year low against the greenback as stimulus from the Bank of Japan and the prospects that Prime Minister Shinzo Abe will win a snap election and extend his economic strategy sapped demand for the currency. The kiwi rose to 92.74 yen as at 5pm in Wellington, from 92.26 yen yesterday. The New Zealand dollar fell to 78.33 US cents from 78.70 cents. The Bank of Japan has maintained its massive stimulus program in the wake of data confirming the economy is in recess...

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