NZ dollar falls as fall in jobless rate masks weak labour market

Thu, 07 Feb 2013

By Paul McBeth Feb. 7 (BusinessDesk) - The New Zealand fell after a fall in the headline unemployment rate masked underlying figures showing a weak labour market, and spooking investors who have been upbeat about the local economic recovery. The kiwi fell to 83.52 US cents at 5pm in Wellington from 84.17 cents at 8am and 84.45 cents yesterday. The trade-weighted index dropped to 75.68 from 76.38 yesterday. New Zealand's unemployment rate fell to 6.9 percent in the December quarter from a 13-year high in the September period, as an increasi...

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