NZ dollar rises as US trade deficit widens; Singapore holds fire

Fri, 12 Oct 2012

By Hannah Lynch Oct 12 (BusinessDesk) - The New Zealand dollar rose after Singapore unexpectedly refrained from monetary stimulus and the US trade deficit in August widened as slower global growth reduced demand for exports. The New Zealand dollar traded at 81.92 US cents at 5pm, up from 81.78 cents at 8am and 81.80 cents yesterday. The trade weighted index was little changed on 73.11 from 73.01. Growth-linked currencies such as the New Zealand dollar rose after the Monetary Authority of Singapore left monetary policy unchanged even after...

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