NZ dollar gains after weak US data weighs on tapering expectations

Mon, 06 Jan 2014

By Tina Morrison Jan. 7 (BusinessDesk) – The New Zealand dollar advanced after weaker-than-expected economic data in the US tempered expectations over how fast the Federal Reserve may start unwinding its monetary stimulus programme. The kiwi rose to 83 US cents at 8am in Wellington, from 82.56 cents at 5pm yesterday. The trade-weighted index increased to 78.41 from 78.14 yesterday. The US dollar index, which measures the greenback against a basket of currencies, dropped after the Institute of Supply Management report showed the pace of grow...

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