NZ dollar rises above 71 US cents for first time in 3 months after weak US data

Tue, 30 May 2017

By Jonathan Underhill May 31 (BusinessDesk) - The New Zealand dollar rose above 71 US cents for the first time since early March after weak US data raised doubts about further Federal Reserve interest rate hikes after one expected in June. The kiwi dollar traded at 70.94 US cents as at 8am in Wellington, and earlier touched 71.01 cents, from 70.46 US cents late yesterday. The trade-weighted index rose to 76.69 76.31 yesterday. The US core PCE price deflator rose 1.5 percent year on year, meeting market expectations but also the lowest...

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