NZ dollar rises to 6-week high vs. euro after ECB cuts rates, signals asset purchases

Thu, 04 Sep 2014

By Paul McBeth Sept. 5 (BusinessDesk) - The New Zealand dollar rose to a six-week high against the euro after the European Central Bank unexpectedly cut its three key interest rates, and signalled an asset purchase plan to help kick-start the moribund regional economy. The kiwi rose as high as 64.30 euro cents, trading at 64.19 cents at 8am in Wellington from 63.27 cents yesterday. The local currency edged down to 83.11 US cents from 83.20 cents yesterday. The euro dropped after ECB cut the refinancing rate and deposit rate by 10 basis...

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