(Bloomberg) -- New Zealand's dollar rose to the
strongest in 19 years against the yen and approached a 22-year
high versus the U.S. currency as investors lured to the nation's
higher yields test the central bank's stance on intervention.
The currency yesterday rose to the strongest against its U.S.
counterpart since being freely traded in 1985, exceeding the
level it reached June 11, when the central bank sold New Zealand
dollars, calling the gains ``unjustified.'' The currency has
surged 34 percent against the yen in the past 12 months, as a
record 8 percent benchmark rate entices investors to the
country's debt.
Read more at Bloomberg Currencies News
strongest in 19 years against the yen and approached a 22-year
high versus the U.S. currency as investors lured to the nation's
higher yields test the central bank's stance on intervention.
The currency yesterday rose to the strongest against its U.S.
counterpart since being freely traded in 1985, exceeding the
level it reached June 11, when the central bank sold New Zealand
dollars, calling the gains ``unjustified.'' The currency has
surged 34 percent against the yen in the past 12 months, as a
record 8 percent benchmark rate entices investors to the
country's debt.
Read more at Bloomberg Currencies News
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