NZ dollar pops above 70 US cents as greenback weakens on manufacturing data

Mon, 02 May 2016

By Tina Morrison May 3 (BusinessDesk) - The New Zealand dollar rose above 70 US cents overnight as the US dollar weakened after a report showed US manufacturing activity slipped in April, raising concern about the pace of recovery in the world's largest economy. The kiwi gained to 70.09 US cents at 8am in Wellington, from 69.93 cents at 5pm yesterday. The trade-weighted index was unchanged at 73.53. Many markets, including London, were closed yesterday for the May Day public holiday. The US dollar index, which measures the greenback ag...

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