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NZ Dollar Rises with Asian Stocks

March 30, 2012 at 11:11 by Vladimir Vyun

All NZD denominationsThe New Zealand dollar advanced today, rising against the US dollar and erasing its previous losses versus the Japanese yen, as Asian stocks gained ahead of the meeting of European finance ministers.

Yesterday, market sentiment was negative, bringing most risky currencies down. The pessimism remained at the beginning of today’s trading session, but, gradually, traders’ stance was shifting toward optimism ahead of the meeting of European finance chiefs. The MSCI Asia Pacific Index of shares rose 0.1 percent, reflecting the improving mood of investors.

NZD/USD rose from 0.8174 to 0.8217 as of 11:10 GMT today. NZD/JPY was flat at 67.38, following the drop to 66.81.

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