NZ dollar may gain after weaker US economic data saps demand for greenback

Sun, 18 Aug 2013

By Tina Morrison Aug 19 (BusinessDesk) – The New Zealand dollar may gain after weaker than expected US data eroded investors’ confidence in the recovery of the world’s biggest economy, and dimmed demand for the greenback. The kiwi was little changed from the New York close at 80.98 US cents at 8am in Wellington, and up from 80.65 cents at 5pm in Wellington Friday. The trade-weighted index rose to 76.09 from 75.79 in Wellington on Friday. The US dollar weakened and commodities such as gold, copper and iron ore strengthened late last week af...

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