NZ dollar falls as rising US bond yields, stronger manufacturing data lift greenback

Mon, 03 Jul 2017

By Jonathan Underhill July 4 (BusinessDesk) - The New Zealand dollar fell, dipping below 73 US cents, as US Treasury yields reached their highest levels in almost two months and manufacturing data beat expectations, driving up the greenback. The kiwi traded at 72.94 US cents as at 8am in Wellington, from 73.17 cents late yesterday. The trade-weighted index was at 78.33 from 78.36. US Treasuries have tumbled in the past week, pushing the yield on the 10-year Treasury note up to 2.35 percent from 2.14 percent at the start of last week, a...

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