NZ dollar pares loss as retail sales show broad-based recovery

Tue, 14 May 2013

By Paul McBeth May 14 (BusinessDesk) - The New Zealand dollar pared its loss in the local trading session after government figures showed growth in retail sales across most sectors and regions in the first three months of the year. The kiwi rose to 82.90 US cents at 5pm in Wellington from 82.40 cents at 8am, little changed from 83.05 cents yesterday. The trade-weighted index fell to 77.46 from 77.67 yesterday. New Zealanders increased their spending 0.5 percent in the three months ended March 31, according to Statistics New Zealand, short...

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