NZ dollar gains after weaker US economic reports damp demand for greenback

Wed, 25 Jun 2014

By Tina Morrison June 26 (BusinessDesk) - The New Zealand dollar advanced after US economic reports raised concerns about the strength of the world's largest economy, damping demand for the greenback. The kiwi rose to 87.28 US cents at 8am in Wellington, from 86.78 cents at 5pm yesterday. The trade-weighted index touched a high of 81.26 overnight, close to the record 81.29 reached earlier this month, and was recently at 81.19 from 80.80 yesterday. The US dollar index, which measures the greenback against a basket of currencies, touched...

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