NZ dollar rises amid poor US economic data

NZ dollar rises amid poor US economic data
Jenny Ruth
The New Zealand dollar rose after poor US economic data suggested growth in the world's largest economy is slowing and as traders covered earlier short positions. The kiwi was trading at 63.20 US cents at 5pm in Wellington from 62.99 cents at 8:05am and 62.81 cents in New York last Friday. The trade-weighted index was at 70.54 points from 70.33. After weak US manufacturing data earlier this week, companion data on the services sector came in significantly below expectations, although the US services sector is still expanding, unlike the c...

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