NZ dollar gains as upbeat trans-Tasman data adds to fears over Fed tapering

Tue, 10 Sep 2013

By Paul McBeth Sept 10 (BusinessDesk) - The New Zealand dollar gained as upbeat local retail spending figures and improving Australian business confidence mixed local buoyancy with uncertainty over the US Federal Reserve’s plans to unwind stimulus after a lacklustre US jobs report on Friday. The kiwi traded at 80.43 US cents at 5pm in Wellington from 80.22 cents at 8am, and up from 79.80 cents yesterday. The trade-weighted index advanced to 75.70 from 75.41 yesterday. Core retail spending in New Zealand rose 1.1 percent last month, underpi...

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