NZ dollar heads for 4.3 percent weekly gain vs. yen as BOJ floods markets with new money

Fri, 12 Apr 2013

By Paul McBeth April 12 (BusinessDesk) - The New Zealand dollar is heading for a 4.3 percent weekly gain against the yen, adding to last week's 4.2 percent increase, as investors buy into the Japanese central bank's massive money-printing programme to revive the country's stagnant economy. The kiwi increased to 85.75 yen at 5pm in Wellington from 85.58 yen yesterday, and hit a new five-year high 86.13 yen during the trading session. The local currency traded at 86.23 US cents at 5pm from 86.32 cents this morning and 85.92 cents yesterday....

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