Volatile day for kiwi dollar as central banks drive the action

Thu, 28 Apr 2016

By Jonathan Underhill April 28 (BusinessDesk) - The New Zealand dollar fell to its lowest level in more than a week against the yen after the Bank of Japan surprised the market by not expanding its monetary stimulus, rounding out a day of volatility tied to central bank actions. The kiwi fell as low as 75.16 yen and was at 75.54 yen at 5pm in Wellington, down from 77.09 yen before the BOJ statement and from 76.37 yen late yesterday. The local currency rose to 69.33 US cents, having surged after the Reserve Bank of New Zealand statement, f...

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