NZ dollar pares losses after weak US manufacturing data

NZ dollar pares losses after weak US manufacturing data
Rebecca Howard
The New Zealand dollar pared some losses on US dollar weakness after soft manufacturing data there overnight. The kiwi was trading at 62.44 US cents at 8am in Wellington after touching an overnight low of 62.04 cents. It was 62.43 cents at 5pm yesterday. The trade-weighted index was at 69.88 from 70.08 late yesterday. The kiwi fell after the Reserve Bank of Australia’s 25 basis point rate cut “weighed on the Aussie and dragged kiwi along for the ride,” said Kiwibank FX trader Mike Shirley. The Australian rate cut has increased the odds th...

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