NZ dollar rallies as strong labour market points to inflation pressure

Wed, 01 Nov 2017

By Rebecca Howard Nov. 1 (BusinessDesk) - The New Zealand dollar rose after the jobless rate fell to a nine-year low in September and wage inflation picked up. The kiwi traded at 69.08 US cents as at 5pm from 68.42 US cents as at 8am in Wellington and from 68.45 cents late yesterday. The trade-weighted index was at 73.29 from 72.61 yesterday. The unemployment rate dropped to 4.6 percent in the three months ended Sept. 30 down from 4.8 percent in June, Statistics New Zealand said in its household labour force survey. That's the lowest...

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