NZD stronger as weak US payrolls increase odds of interest rate cuts

Sun, 09 Jun 2019

By Rebecca Howard June 10 (BusinessDesk) - The New Zealand dollar held its gains after weaker-than-expected US jobs data increased speculation the Federal Reserve will move to lower interest rates there. The kiwi was trading at 66.61 US cents at 7:55am versus 66.64 US cents late Friday in New York and 66.16 US cents at 5pm Friday in Wellington. The trade-weighted index was at 72.96 from 73.00 late Friday in New York. The US Bureau of Labor report showed a small 75,000 gain in non-farm payrolls and downward revisions to previous month...

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