NZ dollar gains in local trading as Chinese data improves, threats remain

Mon, 12 Nov 2012

By Paul McBeth Nov. 12 (BusinessDesk) - The New Zealand dollar gained in the local trading session as Chinese data showed the world's second-biggest economy was rebalancing towards domestic consumption, soothing fears of a sharp slowdown. The kiwi rose to 81.58 US cents at 5pm in Wellington from 81.39 cents at 8am and 81.45 cents on Friday in New York. The trade-weighted index advanced to 73.06 from 72.94 last week. Chinese industrial product gained 9.6 percent last month from a year earlier and retail sales rallied 15 percent, stoking opt...

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