NZ dollar advances as higher yields lure investors amid weaker US data

Thu, 26 Sep 2013

By Tina Morrison Sept. 27 (BusinessDesk) – The New Zealand dollar advanced as weaker data out of the US enticed investors to the higher-yielding local currency. The kiwi gained to 82.75 US cents at 8am in Wellington, from 82.52 cents at the 5pm market close yesterday. The trade-weighted index rose to 77.22 from 76.89 yesterday. Demand for the greenback waned as US data on durable goods, inflation, second quarter growth and Kansas City Fed manufacturing failed to meet expectations. That increased demand for the carry trade, where investors b...

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