NZ dollar advances in volatile trading as investors weigh US tapering, stronger local economy

Thu, 15 Aug 2013

By Tina Morrison Aug 16 (BusinessDesk) – The New Zealand dollar advanced in volatile trading as investors weighed the likelihood of the US reducing monetary stimulus next month, which is positive for the US dollar, against upbeat local data, which is underpinning the New Zealand dollar. The kiwi rose to 80.73 US cents at 8am in Wellington from 80.54 cents at the 5pm market close yesterday. Overnight, the local currency traded between 79.94 US cents and 81.03 cents. The trade-weighted index was little changed at 75.80. The US dollar surged a...

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