NZ dollar advances as weaker report on US durable goods prompts concerns about recovery

Mon, 26 Aug 2013

By Tina Morrison Aug. 27 (BusinessDesk) – The New Zealand dollar gained after weaker-than-expected US durable goods figures prompted some investors to bet a slower pace of economic growth may prompt the Federal Reserve to push out plans to taper its bond purchases. The kiwi advanced to 78.46 US cents at 8am in Wellington from 78.23 cents at the 5pm close yesterday. The trade-weighted index rose to 74.03 from 73.83 yesterday. The New Zealand dollar gained against all the G10 currencies overnight as fears diminished that last week’s sell off i...

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