NZ dollar gains as weak US manufacturing, tepid inflation stokes QE3 expectations

Wed, 15 Aug 2012

By Paul McBeth Aug. 16 (BusinessDesk) - The New Zealand dollar rose for the first time in a week after weak US manufacturing and tepid inflation figures stoked speculation the Federal Reserve will unveil plans for a third round of asset purchases at the central bankers' summit in Jackson Hole, Wyoming this month. The kiwi rose to 80.68 US cents from 80.51 cents at 5pm in Wellington yesterday. The trade-weighted index advanced to 72.75 from 72.56 yesterday. Wall Street's Standard & Poor's 500 Index rose 0.1 percent after Empire State manufa...

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