NZ dollar advances as sentiment improves on prospect of economic revival

Wed, 14 Aug 2013

By Tina Morrison Aug 15 (BusinessDesk) – The New Zealand dollar rose as sentiment was buoyed by reports showing a revival in the local economy, which is likely to push up interest rates and increase the lure of the currency. The kiwi rose to 80.31 US cents, from 79.82 cents at the 5pm market close yesterday. The trade-weighted index gained to 75.73 from 75.36. The New Zealand dollar is being supported by economic data which points to a reviving local economy. Figures yesterday showed retail sales grew at a 4.2 percent annual pace in the seco...

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