NZ dollar gains after jobs data beats expectations on both sides of the Tasman

Thu, 09 May 2013

By Paul McBeth May 9 (BusinessDesk) - The New Zealand dollar recovered its losses from yesterday when the Reserve Bank confirmed it intervened in foreign exchange markets after jobs data on both sides of the Tasman beat expectations, stoking confidence in the Australasian economies. The kiwi rose to 84.56 US cents at 5pm in Wellington from 83.85 cents at 8am and 83.97 cents yesterday. The Australian dollar rose to US$1.0233 from US$1.0186 yesterday. New Zealand’s jobless rate fell 0.6 of a percentage point to 6.2 percent in the March quart...

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