NZ dollar holds above 80 US as ECB bond action spurs equities market rally

Fri, 07 Sep 2012

By Paul McBeth Sept. 7 (BusinessDesk) - The New Zealand dollar held above 80 US cents after the European Central Bank's bond buying programme to build the region's financial stability spurred a rally in global equity markets, and ahead of US employment figures. The kiwi rose to 80.26 US cents at 5pm in Wellington from 80.10 cents at 8am, up from 79.56 cents yesterday. The trade-weighted index gained to 72.08 from 71.62 yesterday and is fractionally lower on the week. Stocks across Asia gained after ECB president Mario Draghi unveiled a pla...

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