NZ dollar rises to 3-week high vs. yen after BoJ introduces negative interest rate

Sun, 31 Jan 2016

By Tina Morrison Feb. 1 (BusinessDesk) - The New Zealand dollar hit a three-week high against the yen after the Bank of Japan introduced a negative interest rate policy, weakening its currency. The kiwi touched 79.08 yen, and was trading at 78.51 yen at 8am in Wellington, from 77.96 yen at 5pm on Friday. The local currency was at 64.77 US cents this morning, from 64.69 cents at the New York close and 64.80 cents on Friday. The yen slumped after the BoJ on Friday adopted a negative interest rate of minus 0.1 percent on some deposits hel...

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