NZ dollar gains after US GDP, trade data; increases vs Aussie before Australian GDP

Tue, 28 Feb 2017

By Jonathan Underhill March 1 (BusinessDesk) - The New Zealand dollar rose against the greenback after the second reading of US fourth-quarter gross domestic product wasn't revised up as expected while the initial measure of US trade showed a bigger-than -expected deficit. The local currency increased to 72.17 US cents as at 8am in Wellington from 71.82 cents late yesterday. The trade-weighted index rose to 78.47 from 78.11. The US economy expanded at an annualised 1.9 percent pace quarter-on-quarter in the fourth quarter, missing expe...

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