NZ dollar rises above 78 US cents for first time in month on prospects of Fed easing

Thu, 14 Jun 2012

By Hannah Lynch June 15 (BusinessDesk) - The New Zealand dollar rose after weak US data fueled speculation the Federal Reserve will take further steps to stoke the world's largest economy, helping underpin global growth. The New Zealand dollar rose to 78.11 US cents just before 8am from 77.74 cents at 5pm yesterday. The trade weighted index increased to 70.83 from 70.64. US consumer prices fell 0.3 percent in May, the biggest decline in more than three years, while initial jobless claims unexpectedly climbed by 6,000 to 386,000. That follows...

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