NZ dollar drops in NY trading after surge in US payrolls

Sun, 07 Aug 2016

By Jonathan Underhill Aug. 8 (BusinessDesk) - The New Zealand dollar fell in New York trading after figures showed the US economy stacked on thousands more jobs than expected last month, stoking talk that a Federal Reserve rate hike is still on the cards this year. US stocks and the greenback rallied. The kiwi traded at 71.31 US cents as at 8:30am in Wellington, little changed from the New York close on Friday and down from 72.12 cents before the jobs data was released. The trade-weighted index was at 75.92, down from 76.39 before the pay...

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