NZ dollar jumps to five-month high vs euro after ECB cuts rates, signals easing bias

Thu, 07 Nov 2013

By Tina Morrison Nov. 8 (BusinessDesk) – The New Zealand dollar jumped to its highest in more than five months against the euro after the European Central Bank unexpectedly cut its benchmark interest rate and signalled monetary policy will remain accommodative. The kiwi touched 62.83 euro cents early this morning, its highest since May 29, and was trading at 62.08 cents at 8am in Wellington, from 61.84 cents at the 5pm market close yesterday. The local currency slipped to 83.37 US cents from 83.54 cents yesterday after data showed the US ec...

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