Economic news

Central Bank: Kiwi has high potential for growth

On Thursday, the New Zealand dollar was the main driving force in a little bit dormant market in major currencies, rose 0.5 percent after the country's Central Bank has made explicit efforts in maintaining the currency at a regular strategic meeting.

European stock markets edged lower for a third day, and investors flocked to traditional safe haven - the yen, lifting the currency around 0.3% higher against the euro and the dollar in the first hours of European trade.

Dealers noted that the "short" bets against the kiwi has been compressed after the Central Bank announced the possible growth and exposure of current exchange rates.

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