NZ dollar gains before retail sales as stock markets strengthen

Tue, 13 Nov 2012

Nov. 14 (BusinessDesk) - The New Zealand dollar gained before retail sales figures that will provide more evidence of the pace of the economy after surprisingly weak employment figures as stronger equity markets overnight gave a bid tone to the local currency. The kiwi dollar rose to 81.98 US cents from 81.66 cents at 5pm in Wellington yesterday. The trade-weighted index rose to 73.42 from 73.19. Home Depot led gains on the Dow Jones Industrial Average after posting third-quarter results that beat forecasts, while providing an optimistic pic...

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