NZ dollar gains as GDP growth swells appeal, global outlook dims

Thu, 20 Sep 2012

By Jonathan Underhill Sept. 21 (BusinessDesk) – The New Zealand dollar gained as growth in the domestic economy partly offset weaker offshore news, including continued contraction in Chinese and Europe-wide manufacturing. The kiwi dollar rose to 82.86 US cents from 82.44 cents at 5pm yesterday. The trade-weighted index rose to 73.55 from 73.18. The kiwi gained initially after the gross domestic product figures yesterday, before selling off after the Chinese data and subsequently recovering overnight. The domestic economy grew 0.6 percent in...

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