NZ dollar jumps vs yen after Moody's cuts Japanese credit rating

Mon, 01 Dec 2014

By Tina Morrison Dec. 2 (BusinessDesk) - The New Zealand dollar jumped against the yen after credit ratings agency Moody’s Investors Service cut Japan’s credit rating, The kiwi touched 93.45 yen, its highest level since Nov. 21 when it reached a seven-year high of 93.68 yen. The local currency was trading at 93.32 yen at 8am in Wellington, from 92.87 yen at 5pm yesterday. The New Zealand dollar advanced to 78.89 US cents from 78.09 cents yesterday as some investors sold the greenback following its recent gains. The yen dipped to its we...

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