NZ dollar gains as weaker US data, Yellen testimony weigh on greenback

Sun, 17 Nov 2013

By Tina Morrison Nov. 18 (BusinessDesk) – The New Zealand dollar rose as weaker data out of the US and comments by Federal Reserve nominee chair Janet Yellen increased bets the Fed won’t pull back on its stimulus programme anytime soon. The kiwi advanced to 83.45 US cents at 8am in Wellington, from 83.41 cents at the New York close and 82.90 cents at the 5pm market close in Wellington on Friday. The trade-weighted index increased to 77.94 from 77.54 on Friday. The greenback weakened amid concern about the pace of revival in the world’s large...

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