NZ dollar rises to 9-mth high as German confidence, Fed hopes lift stocks

Tue, 11 Dec 2012

By Jonathan Underhill Dec. 12 (BusinessDesk) – The New Zealand dollar rose to a nine-month high as hopes Germany will avoid recession and optimism the Federal Reserve will enact more easing measures helped stocks rally and lift risk sentiment. The kiwi dollar climbed to 83.83 US cents from 83.43 cents at 5pm in Wellington yesterday. The trade-weighted index rose to 74.84 from 74.66. The euro gained and stocks rose across Europe, with the Stoxx 600 Index gaining 0.3 percent, after Germany's ZEW Center for European Economic Research said its i...

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