NZ dollar gains as greenback falls on weak US economic data

Thu, 28 Jan 2016

By Tina Morrison Jan. 29 (BusinessDesk) - The New Zealand dollar advanced as weak US data stoked speculation the Federal Reserve will be cautious in hiking US interest rates further. The kiwi gained to 64.69 US cents at 8am in Wellington, from 64.44 cents at 5pm yesterday. The trade-weighted index edged up to 71.01 from 70.91 yesterday. The US dollar index, which measures the greenback against a basket of currencies, touched its lowest level in almost two weeks after US durable goods orders unexpectedly slumped 5.1 percent last month,...

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