NZ dollar recovers from four-month low, likely to face more downside

Mon, 03 Feb 2014

By Paul McBeth Feb. 3 (BusinessDesk) - The New Zealand dollar bounced from a four-month low, though faces more downside pressure with local employment figures and Australian consumer spending data later in the week. The kiwi rose to 81.16 US cents at 5pm in Wellington from 80.73 cents at 8am, and 80.85 cents on Friday in New York. It fell as low as 80.61 cents last Friday, the lowest since Sept. 11. The trade-weighted index was little changed at 77.09 from 77.20 at the New York close. Investors’ appetite for the kiwi has dimmed since the...

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