NZ dollar recovers from Friday's selloff after upbeat business confidence survey

Mon, 19 Dec 2016

By Rebecca Howard Dec. 19 (BusinessDesk) - The New Zealand dollar consolidated below 70 US cents, recovering some ground from Friday's selloff in New York after a survey showed a pickup in business confidence led by the construction industry. The kiwi traded at 69.79 US cents as at 5 pm in Wellington, having dropped to a six-month low of 69.27 cents in New York on Friday, from 70.27 cents in Asia at the end of last week. The trade-weighted index was at 77.58, up from 77.42 in New York and down from 78.05 in Wellington on Friday. A net...

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