NZ dollar jumps vs. yen as Abe win in upper house paves way for more stimulus

Mon, 11 Jul 2016

By Paul McBeth July 12 (BusinessDesk) - The New Zealand dollar gained against the yen on expectations Prime Minister Shinzo Abe will kick off a new round of stimulus after his conservative party swept the upper house in the weekend election. The kiwi climbed to 74.16 yen at 8am in Wellington from 73.67 yen yesterday. Still, the trade-weighted index fell from a 14-month high, trading at 77.25 from 77.68 yesterday as traders scaled back their bets on the local currency against other cross-rates. The yen weakened against most major curr...

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