NZ dollar jumps higher after weak US employment cost data

Sun, 02 Aug 2015

By Tina Morrison Aug. 3 (BusinessDesk) - The New Zealand dollar jumped higher after weak data on US employment costs prompted traders to pull back expectations for US interest rate hikes. The kiwi touched a high of 66.73 US cents over the weekend, and was trading at 65.88 cents at 8am in Wellington, from 65.82 cents at the New York close and 65.87 cents at 5pm on Friday. The trade-weighted index was little changed at 70.28 from 70.31 on Friday. The greenback weakened after the US second quarter employment cost index recorded its slowes...

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