NZ dollar gains as weak US jobs report erodes optimism over Fed tapering plan

Mon, 13 Jan 2014

By Paul McBeth Jan. 13 (BusinessDesk) - The New Zealand gained in local trading after weaker than expected employment figures in the US eroded optimism the Federal Reserve will accelerate plans to scale back its monetary stimulus. The kiwi traded at 83.31 US cents at 5pm in Wellington from 82.99 cents at 8am, when it was unchanged from the close of trading in New York last week. The trade-weighted index increased to 78.41 from 78.21 from Friday in New York. The Japanese yen strengthened in Asian trading as investors grew weary of the US d...

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