NZ dollar climbs to 3-week high after economy grows 1.5 percent in 4Q; Cyprus woes hover

Thu, 21 Mar 2013

By Paul McBeth March 21 (BusinessDesk) - The New Zealand dollar climbed to a three-week high after government figures showed the economy grew 1.5 percent in the final three months of 2012, almost twice the Reserve Bank's forecast. The kiwi rose to 82.67 US cents at 5pm in from 82.27 cents at 8am and the same price yesterday. The trade-weighted index gained to 76.12 from 75.78 yesterday. New Zealand's economy grew at a faster pace than expected on growing international demand for local logs, and as the $30 billion Canterbury rebuild continu...

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