NZ dollar soars to 7-year high against weak yen on Abe poll plans

Tue, 11 Nov 2014

By Tina Morrison Nov. 12 (BusinessDesk) - The New Zealand dollar soared to the highest in more than seven years against the yen on reports Prime Minister Shinzo Abe will call a snap election, seeking a mandate for further economic reforms including an increase in sales tax. The kiwi touched 90.33 yen, its highest level since October 2007, and was trading at 90.21 yen at 8am in Wellington, from 89.06 yen at 5pm yesterday. The local currency advanced to 78.09 US cents from 77.48 cents yesterday following the Nov. 11 Veterans Day US pub...

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