NZ dollar advances as greenback weakens on disappointing US retail sales

Wed, 13 May 2015

By Tina Morrison May 14 (BusinessDesk) - The New Zealand dollar advanced after weaker-than-expected US retail sales data stoked speculation the Federal Reserve will delay hiking interest rates. The kiwi rose to 74.68 US cents at 8am in Wellington, from 73.89 cents at 5pm yesterday. The trade-weighted index increased to 74.62 from 73.89 yesterday. The US dollar index, which measures the greenback against a basket of currencies, touched its lowest level in more than three months after a report showed US retail sales were unchanged in Apr...

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