NZ dollar heads higher on Chinese inflation data

Tue, 10 Jan 2017

By Edwin Mitson Jan. 10 (BusinessDesk) - The New Zealand dollar moved to near-month highs against both the US dollar and the Chinese yuan, as data published by Beijing suggesting higher inflation in the world's manufacturing hub drove the value of the kiwi up. The local currency was trading at 70.38 US cents at 5pm in Wellington, from 70.19 US cents at 8am and 69.57 US cents yesterday. The trade-weighted index rose to 77.83 from 77.31 yesterday. Against the Chinese yuan, the kiwi jumped to 4.8734 yuan from 4.8231 yuan this time yesterday...

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