NZ dollar soars vs. yen after BOJ opens stimulus floodgates

Thu, 04 Apr 2013

April 5 (BusinessDesk) – The New Zealand dollar soared to its highest in almost five years against the yen after the Bank of Japan announced a larger-than-expected programme of monetary stimulus aimed at restoring inflation back to 2 percent and weakening its currency. The kiwi jumped to 80.93 yen, and earlier traded as high as 81.12 yen, the highest since July 2008, from 78.06 yen at 5pm in Wellington yesterday, which was before the BOJ statement. The local dollar gained to 84.16 US cents from 84.08 cents. Bank of Japan Governor Haruhiko Ku...

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