NZ dollar advances after weak US retail sales weigh on interest rate outlook

Wed, 14 Jan 2015

By Tina Morrison Jan. 15 (BusinessDesk) - The New Zealand dollar advanced after a weak US retail sales report for December increased speculation the Federal Reserve may delay its looming interest rate hike. The kiwi rose to 77.20 US cents at 8am in Wellington, from 77.03 cents at 5pm yesterday. The trade-weighted index was little changed at 78.64 from 78.63 yesterday. US retail sales fell 0.9 percent in December and November's gain was revised lower to 0.4 percent. Copper prices slumped amid concerns about the prospects for world econo...

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