NZ dollar jumps to five month high after weak US jobs data

Tue, 22 Oct 2013

By Tina Morrison Oct 23 (BusinessDesk) – The New Zealand dollar jumped to its highest in more than five months after weaker than expected jobs growth in the US reinforced the likelihood that the Federal Reserve will keep monetary stimulus for longer, devaluing the greenback. The kiwi touched 85.43 US cents overnight, its highest level since May 6. The local currency was trading at 85.13 US cents at 8am in Wellington from 84.42 cents at the 5pm market close yesterday. The trade-weighted index advanced to 78.17 from 77.85 yesterday. The US dol...

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