(Bloomberg) -- The New Zealand dollar rose to a 19-
year high against the yen after central bank intervention failed
to halt the currency's gains.
The local dollar pared a decline of as much as 0.7 percent
against the Japanese and U.S. currencies as investors took
advantage of the retreat to buy the nation's higher-yielding
bonds and bills. The Reserve Bank of New Zealand sold its
currency this morning, said Danica Hampton, a currency
strategist at the Bank of New Zealand Ltd., which handled some
of the trades.
Read more at Bloomberg Currencies News
year high against the yen after central bank intervention failed
to halt the currency's gains.
The local dollar pared a decline of as much as 0.7 percent
against the Japanese and U.S. currencies as investors took
advantage of the retreat to buy the nation's higher-yielding
bonds and bills. The Reserve Bank of New Zealand sold its
currency this morning, said Danica Hampton, a currency
strategist at the Bank of New Zealand Ltd., which handled some
of the trades.
Read more at Bloomberg Currencies News
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