NZ dollar rises as EU summit expectations, US optimism dim

Tue, 26 Jun 2012

By Hannah Lynch June 27 (BusinessDesk) - The New Zealand dollar rose amid concerns the European Union summit on Thursday will fail to deliver a concrete solution to the regions debt crisis and as weaker-than-expected data boosted demand for high yielding currencies, such as the kiwi. The New Zealand dollar traded at 79.20 US cents just before 8am up from 78.85 cents at 5pm yesterday. The trade weighted index increased to 71.87 from 71.64. Markets are focused on the EU's two-day summit in Brussels on Thursday to see if any decisive steps wil...

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