NZ dollar reaches 5-year high vs. yen after BOJ ‘game-changer’

Sun, 07 Apr 2013

April 8 (BusinessDesk) – The New Zealand dollar rose to a five-year high against the yen following the Bank of Japan’s announcement last week of much greater quantitative and qualitative easing to end deflation and weaken its currency. The kiwi rose to 82.61 yen and earlier reached 82.68 yen, the highest since May 2008, from 82.21 yen in New York on Friday. It slipped to 84.13 US cents from 84.31 cents as equity markets fell in the wake of weak US payrolls data. BOJ Governor Haruhiko Kuroda last week announced plans yesterday to double month...

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