NZ dollar extends gain above 79 US cents on China optimism

Tue, 14 Oct 2014

By Jonathan Underhill Oct. 14 (BusinessDesk) - The New Zealand dollar extended its gains against the greenback after the People's Bank of China cut a 14-day repo rate, showing the central bank is willing to provide stimulus to the world's second-largest economy. The kiwi rose to 78.98 US cents at 5pm in Wellington from 78.79 cents at the start of the day and from 78.72 cents yesterday, when data showed China's imports and exports were stronger than expected last month. The trade-weighted index fell to 76.68 from 76.57 yesterday. China'...

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