NZ dollar surges more than 1 US cent as Draghi backs euro, stokes risk appetite

Thu, 26 Jul 2012

By Jonathan Underhill July 27 (BusinessDesk) - The New Zealand dollar rose more than 1 US cents, climbing back above 80 US cents, after European Central Bank President Mario Draghi said policy makers will do whatever it takes to support the euro, helping stoke risk appetite worldwide. The kiwi dollar rose to 80.17 US cents, from 79.11 cents at 5pm in Wellington yesterday. The trade-weighted index rose to 72.35 from 71.84. Draghi told the Global Investment Conference in London yesterday that the ECB is “ready to do whatever it takes to preser...

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