NZ dollar gains after weaker US jobs damp Fed rate hike prospects

Sun, 03 Aug 2014

By Tina Morrison Aug. 4 (BusinessDesk) - The New Zealand dollar rose on US dollar weakness after a key government measure of the US labour market fell short of expectations, reinforcing the view that the Federal Reserve won't pull forward the timing of an interest rate hike. The kiwi traded as low as 84.59 US cents ahead of the payrolls report, and spiked as high as 85.34 cents. The local currency was trading at 85.07 US cents at 8am in Wellington, from 85.16 cents at the New York close and 84.95 cents at 5pm in Wellington on Friday. The...

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