NZ dollar holds gains after brief decline following bigger July trade deficit

Mon, 26 Aug 2013

By Tina Morrison Aug. 26 (BusinessDesk) – The New Zealand dollar held gains in local trading after a brief slide when government figures unexpected showed a bigger deficit in July. The kiwi increased to 78.23 US cents at 5pm in Wellington from 78.11 cents at 8am and 77.99 cents on Friday in New York, having slid below 78 cents following the trade report. The trade-weighted index edged down to 73.83 from 73.99 last week. The local currency has declined 5.5 percent this year on the expectation the Federal Reserve will start tapering its US$85...

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