NZ dollar holds gains as heavy yen selling puts pressure on greenback

Thu, 13 Nov 2014

By Paul McBeth Nov. 13 (BusinessDesk) - The New Zealand dollar held its gains in local trading as the yen fell amid speculation that nation's government may call a snap election spilled over into other cross-rates, prompting investors to trim their greenback holdings. The kiwi climbed to 91.05 yen at 5pm in Wellington, near a seven-year high, from 90.50 yen yesterday.The local currency traded at 78.67 US cents from 78.19 cents yesterday. The trade-weighted index rose to 78 from 77.49. Japan's yen was at its weakest in seven years this...

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