NZ dollar gains on strong employment report

Wed, 05 Nov 2014

By Paul McBeth Nov. 5 (BusinessDesk) - The New Zealand dollar gained after government figures showed a strengthening labour market is soaking up an increased supply of new migrants and returning kiwis, though as yet not feeding through into wage inflation. The kiwi rose to 78.30 US cents at 5pm in Wellington from 77.75 cents at 8am and 77.44 cents yesterday. The trade-weighted index advanced to 77.05 from 76.29 yesterday. The unemployment rate fell to 5.4 percent in the three months ended Sept. 30, from 5.6 percent in the June quarter,...

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