NZ dollar cedes overnight gains as commodities drop, stocks fall

Tue, 10 Jul 2012

By Jonathan Underhill July 11 (BusinessDesk) - The New Zealand dollar gave up its overnight gains, to be little changed from yesterday, after commodity prices fell and US stocks weakened, taking the wind out of growth-linked currencies such as the kiwi. The New Zealand dollar traded at 79.30 US cents, from 79.27 cents at 5pm in Wellington yesterday. It reached as high as 79.84 cents in New York trading. The trade-weighted index was at 72.22 from 72.18 yesterday. The Thomson Reuters/Jefferies CRB Commodity Index of 19 commonly traded commodit...

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