NZ dollar rises on G-7’s statement stumble, increased risk appetite

Tue, 12 Feb 2013

Feb. 13 (BusinessDesk) – The New Zealand dollar rallied above 84 US cents after a Group of Seven leading nations' official said the body was concerned about excessive moves in the yen, leading to broad selling of the greenback and lifting so-called riskier currencies. The New Zealand dollar recently traded at 84.06 US cents, having climbed as high as 84.36 cents overnight, from 83.50 cents at 5pm in Wellington yesterday. The trade-weighted index climbed to 76.34 from 76.05. Currency traders apparently misread an initial statement from the G-...

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