NZ dollar pops above 85 US cts as local economy seen outperforming US, Europe

Thu, 14 Aug 2014

By Tina Morrison Aug. 15 (BusinessDesk) - The New Zealand dollar popped above 85 US cents as better than expected data contrasted with weaker economic reports in the US and Europe, enhancing the lure of local assets. The kiwi touched a 10-day high of 85.14 US cents overnight, and was trading at 84.91 cents at 8am in Wellington, from 84.70 cents at 5pm yesterday. The trade-weighted index advanced to 79.66 from 79.50 yesterday. The New Zealand dollar jumped higher after data yesterday showed second quarter retail sales rose more than exp...

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