NZ dollar jumps to 6-week high vs. USD, record vs. euro, on demand for yield

Thu, 15 Jan 2015

By Tina Morrison Jan. 16 (BusinessDesk) - The New Zealand dollar rose to its highest in more than six weeks by investors seeking yield after Switzerland's central bank dropped its cap on the Swiss franc's value against the euro and moved deposit rates further into negative territory. The kiwi rose to a record against the euro on speculation the Swiss expect the European Central Bank to launch a bond-buying programme next week. The kiwi touched 78.90 US cents and was trading at 78.24 cents at 8am in Wellington, from 77.20 cents at 5pm yest...

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