NZ dollar gains on safe-haven buying as US stocks fall, RBA report eyed

Mon, 07 Jan 2013

Jan. 8 (BusinessDesk) – The New Zealand dollar rose against the greenback, even as US stocks fell, in what may be a run of safe-haven buying that’s also lifted the Australian dollar. The kiwi rose to 83.55 US cents from 82.94 cents at 5pm in Wellington yesterday. The trade-weighted index climbed to 75.19 from 74.82. Stocks on Wall Street fell ahead of the US earnings season, pushing the Standard & Poor’s 500 Index down 0.5 percent, though that wasn’t enough to dent the kiwi amid general US dollar weakness. New Zealand’s tepid economic growth...

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