NZ dollar jumps as US rate hike bets pushed out after weak labour data

Mon, 06 Jun 2016

By Tina Morrison June 7 (BusinessDesk) - The New Zealand dollar jumped to its highest in a month after weak US labour market data pushed out expectations for US interest rate hikes and damped demand for the greenback. The kiwi touched 69.67 US cents yesterday when local markets were closed for the Queen's Birthday public holiday. The local currency was trading at 69.23 US cents at 8am in Wellington, from 68.28 cents on Friday. The trade-weighted index advanced to 73.90 from 73.62 on Friday. The US dollar index, which measures the green...

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