NZ dollar falls after unexpected rise in unemployment in fourth quarter

Wed, 01 Feb 2017

By Rebecca Howard Feb. 1 (BusinessDesk) - The New Zealand dollar fell after figures showed the jobless rate unexpectedly rose in the fourth quarter while wage inflation remained tepid, detracting from the case for Reserve Bank rate hikes starting this year. The New Zealand dollar was trading at 72.62 US cents as at 5 pm in Wellington versus 73.31 cents at 8am and 72.86 cents yesterday.The trade-weighted index was at 79.20 from 79.64. The kiwi, which began the day at a fresh 2 1/2-year high, lost ground after news New Zealand's unemploy...

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