NZ dollar touches fresh 7-year high vs. yen, gives up some gains after lower dairy prices

Tue, 18 Nov 2014

By Tina Morrison Nov. 19 (BusinessDesk) - The New Zealand dollar touched a fresh seven-year high against the yen after Japanese prime minister Shinzo Abe called a snap election and said he would delay plans to hike sales tax to seek a mandate for economic reform after the country fell into recession. The kiwi reached 93.22 yen, its highest since July 2007, and was trading at 92.75 yen at 8am in Wellington, from 92.52 yen at 5pm yesterday. The local currency gave up its gains against the US dollar, dropping about half a cent, after dairy p...

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