NZ dollar gains, pushing TWI to 78

Mon, 05 Sep 2016

By Jonathan Underhill Sept. 5 (BusinessDesk) - The New Zealand dollar rose, pushing the trade-weighted index to a 16-month high, as the market reassessed Friday's non-farm payrolls data out of the US on concern jobs growth is being driven by lower-paying positions and the case for a rate hike isn't conclusive. The kiwi traded at 73.35 US cents at 5pm in Wellington from 72.88 cents in late New York trading on Friday. It spiked as high as 73.57 cents after the payrolls data. The trade-weighted index rose as high as 78 from 77.63 on Friday,...

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