New Zealand dollar gains as greenback weighed on by weak data, rate cut talk

Mon, 03 Jun 2019

By Rebecca Howard June 4 (BusinessDesk) - The New Zealand dollar gained after weak US manufacturing data and talk of a possible US rate cut weighed on the greenback. The kiwi was trading at 65.98 US cents at 7:45am versus 65.34 late yesterday in New York after a holiday weekend in New Zealand. It was at 65.10 US cents late Friday in Wellington. The trade-weighted index was at 72.40 from 72.21 late yesterday in New York. The US dollar took a tumble after the Institute for Supply Management said its US manufacturing purchasing managers...

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