NZ dollar rises to highest in about 7 months on Spanish budget, China stimulus

Thu, 27 Sep 2012

By Jonathan Underhill Sept. 28 (BusinessDesk) – The New Zealand dollar rose to its highest level in almost seven months after Spain announced an austerity budget that may herald a formal request for a bailout, while China pumped record amounts of funds into its financial system. The New Zealand dollar rose to 83.15 US cents, and earlier reached 83.25 cents, the highest since early March, from 82.58 cents at 5 pm yesterday. The trade-weighted index rose to 73.76 from 73.40. Spain's cabinet yesterday approved a budget that aims to reduce the 2...

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