NZ dollar jumps to five-month high as risky assets find favour as US avoids debt default

Wed, 16 Oct 2013

By Tina Morrison Oct. 17 (BusinessDesk) – The New Zealand dollar surged to a five-month high as riskier assets gained favour after US politicians agreed a deal which would pass the US budget and lift the nation’s borrowing limit, averting a debt default. The kiwi jumped as high as 84.44 US cents, and was at 84.33 cents at 8am in Wellington, from 83.89 cents at the 5pm market close yesterday. The trade-weighted index rose to 78.17 from 77.89 yesterday. Sentiment turned positive, boosting risky assets such as equities, on news that US politici...

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