NZ dollar gains on rising business confidence, strong Australian data

Tue, 31 May 2016

By Jonathan Underhill May 31 (BusinessDesk) - The New Zealand dollar gained after a survey showed business confidence rose for a third month while strong Australian exports, building approvals, and business lending figures drove up the Aussie dollar, dragging the kiwi with it. The kiwi rose to 67.29 US cents as at 5pm in Wellington, from 66.84 cents yesterday. The local currency fell to 92.84 Australian cents from 93.34 cents yesterday. A net 11 percent of firms surveyed in the ANZ Business Outlook in May were upbeat about the economy’...

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