NZ dollar gains in holiday trading as revisions show economy on stronger track

Thu, 21 Dec 2017

By Rebecca Howard Dec. 21 (BusinessDesk) - The New Zealand dollar gained after revised figures showed the economy on a stronger-than-expected growth track, adding to the prospects of a rate hike sooner than the Reserve Bank has flagged. The kiwi rose to 70.07 US cents as at 5pm from 69.61 cents late yesterday. The trade-weighted index rose to 73.75 from 73.33. While the 0.6 percent third-quarter growth was in line with expectations the second-quarter rate was revised up to 1 percent from 0.8 percent. The "significant upward revision...

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