NZ dollar gains as US growth concerns keep greenback under pressure

Tue, 02 Aug 2016

By Paul McBeth Aug. 3 (BusinessDesk) - The New Zealand dollar gained as concerns about the strength of the US economy weighed on the greenback, eroding optimism a rate cut by the Reserve Bank will do much to drag down the kiwi. The local currency rose to 72.31 US cents from 71.86 cents yesterday. The trade-weighted index advanced to 76.61 from 76.46. The dollar index, a measure of the greenback against a basket of currencies, extended its decline, falling to the lowest level in more than a month as investors weighed up the impact of...

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