Kiwi sees boost from yen
Posted on 29 April, 2016
The New Zealand dollar has jumped following the Bank of Japan’s decision not to expand its stimulus measures. The Kiwi is currently trading at one dollar to 75.42 yen. The bank had been forecast to add to the measures, and the unexpected move sent the US dollar to its biggest fall against the yen in five years. Sam Tuck, senior foreign exchange strategist at ANZ Bank in New Zealand, says: “The markets were receiving a lot of US dollars from the dollar-yen selloff and had to distribute that somewhere else”.
