NZ dollar jumps to three-month high as US data disappoints

By Gavin Evans | Tue, 03 Dec 2019


The New Zealand dollar jumped to a three-month high after US manufacturing data came in weaker than expected and equity markets fell on a surprise move by the US to reimpose tariffs on steel and aluminium imports from Brazil and Argentina.The kiwi was trading at 65.02 US cents at 8am from 64.46 cents at 5pm. The trade-weighted index was at 71.97 from 71.48.Equity markets weakened overnight after data from the Institute for Supply Management suggested US factory activity contracted for a fourth month in November, at odds with recent signs of imp...