NZ dollar bounces off lows as NZ budget keeps surplus target, greenback support stumbles

Thu, 16 May 2013

By Paul McBeth May 16 (BusinessDesk) - The New Zealand dollar came off its recent lows as Finance Minister Bill English’s budget kept the operating surplus target for 2014/15 intact, and as support for the greenback stumbled after US manufacturing data missed expectations yesterday. The kiwi rose to 82.48 US cents at 5pm in Wellington from 82.25 cents at 8am, and 82.13 cents yesterday. The trade-weighted index gained to 77.60 from 77.13. The New Zealand Treasury forecasts an operating surplus before gains and losses of $75 million in 2014-...

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