NZ dollar retreats as signs of stronger US economy help lift greenback

Mon, 24 Oct 2016

By Jonathan Underhill Oct. 25 (BusinessDesk) - The New Zealand dollar fell against a broadly stronger US dollar after figures showed US manufacturing activity at its highest levels this year, driving up the greenback. The kiwi fell to 71.31 US cents as at 8am in Wellington from 71.57 cents in late Asian trading yesterday, with domestic trading rooms closed for the Labour Day holiday. The trade-weighted index slipped to 76.89 from 77.12. The Markit PMI manufacturing index in the US climbed to 53.2 in October, against expectations of 51....

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