NZ dollar climbs above 78 US cents

Thu, 27 Jun 2013

By Paul McBeth June 27 (BusinessDesk) - The New Zealand dollar rose above 78 US cents as weak US economic data cast doubt on how quickly the Federal Reserve will stop its money-printing policy. The kiwi rose to 78.19 US cents at 5pm in Wellington from 77.93 cents at 8am and 77.35 cents yesterday. The trade-weighted index advanced to 73.75 from 72.98. Commerce Department figures yesterday showed the US economy grew at a 1.8 percent annualised pace in the first quarter, slower than the prior reading of 2.4 percent. That gave investors more to...

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