NZ dollar rallies on improving Chinese manufacturing outlook, upbeat RBA Governor

Tue, 24 Jul 2012

By Paul McBeth July 24 (BusinessDesk) - The New Zealand dollar rallied in local trading after an economic indicator showed Chinese manufacturing may improve this month, and as Australian central bank Governor Glenn Stevens gave an upbeat appraisal of his nation's economy. The kiwi rose to 79.18 US cents at 5pm from 78.87 cents at 8am in Wellington, and was down from 79.40 cents yesterday. The trade-weighted index dropped to 71.90 from 72.07 yesterday. Investors' appetite for the trans-Tasman currencies got a lift after the HSBC purchasing m...

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