NZ dollar gains after stronger retail sales data driven by automobiles

Mon, 15 May 2017

By Jonathan Underhill May 15 (BusinessDesk) - The New Zealand dollar rose after figures showed a stronger-than-expected gain in first-quarter retail sales, led by vehicles, but is expected to remain in its recent range until this week's dairy auction The kiwi rose to 68.73 US cents as at 5pm in Wellington from 68.55 cents in late New York trading on Friday. The trade-weighted index edged up to 74.88 from 74.68, below the RBNZ's latest projected average for the TWI in the June quarter of 76. Retail sales rose 1.5 percent, seasonally adj...

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