NZ dollar reaches new 9-mth high as Fed extend QE, ties low rates to unemployment

Wed, 12 Dec 2012

Dec. 13 (BusinessDesk) – The New Zealand dollar rose to a new 9-month high after the Federal Reserve extended its quantitative easing programme and tied the end of record low interest rates to a targeted drop in unemployment. The kiwi dollar rose to 84.51 US cents from 83.90 cents at 5pm yesterday, the highest since it reached 84.71 cents on Feb. 29. The trade-weighted index rose to 75.30 from 74.91. The Fed will buy Treasuries outright at a rate of US$45 billion a month, alongside US$40 billion a month of mortgage-backed securities, accordi...

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