N.Z. Dollar Rises as S&P Says Rating Unaffected by Earthquake
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New Zealand’s dollar strengthened for a second day versus the greenback after Standard & Poor’s said the nation’s ratings aren’t “immediately affected” by this week’s earthquake, the deadliest in 80 years.
The New Zealand and Australian currencies also gained versus the yen as an advance in global stocks spurred demand for higher-yielding assets. The Aussie rose for a third day against the U.S. dollar on speculation a commodities boom will prompt the Reserve Bank to increase interest rates.