NZ dollar jumps on global growth optimism; demand wanes for safe haven currencies

Wed, 04 Sep 2013

By Tina Morrison Sept. 5 (BusinessDesk) – The New Zealand dollar surged on optimism global economic growth is recovering and as safe haven currencies declined in light of no imminent western military action in Syria. The kiwi jumped to 79.07 US cents at 8am in Wellington from 78.08 cents at 5pm yesterday. The trade-weighted index advanced to 74.70 from 74 yesterday. Growth-sensitive currencies such as the kiwi and the Aussie advanced after a report showed China’s services industry accelerated, boosting investor optimism about the outlook for...

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