NZ dollar rises above 84 US cents after stronger labour market data signals rate hikes next year

Wed, 06 Nov 2013

By Tina Morrison Nov. 7 (BusinessDesk) – The New Zealand dollar rose above 84 US cents overnight after stronger-than-expected labour market data affirmed bets a strengthening economy will require rate hikes next year. The kiwi touched a high of 84.14 US cents overnight, rising over 84 cents for the first time since Oct. 24. The local currency was at 83.77 at 8am in Wellington trading, from 83.81 cents at the 5pm market close yesterday. The trade-weighted index was little changed at 77.76 from 77.83 yesterday. Investors favoured the New Zeala...

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