NZ dollar gains as jobs growth beats forecasts, stokes rate hike expectations

Wed, 06 Nov 2013

By Paul McBeth Nov. 6 (BusinessDesk) - The New Zealand dollar rose near a two-week high after strong jobs growth in the September quarter fuelled expectations the Reserve Bank will have more reasons to hike interest rates next year. The kiwi rose as high as 83.90 US cents, the highest since Oct. 24, and traded at 83.78 cents at 5pm in Wellington from 83 cents at 8am and 82.63 cents yesterday. The trade-weighted index advanced to 77.81 from 76.80 yesterday. New Zealand employment rose 1.2 percent, beating the 0.6 percent expected in a Reut...

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