NZ dollar rises as weaker US data weighs on greenback

Mon, 27 Oct 2014

By Tina Morrison Oct. 28 (BusinessDesk) - The New Zealand dollar advanced after weaker-than-expected US data weighed on the US dollar. The kiwi rose to 78.97 US cents at 8am in Wellington, from 78.75 cents at 5pm yesterday. New Zealand banks were closed yesterday for the Labour Day holiday. In the US, Markit said its preliminary services sector purchasing managers’ index fell in October to its lowest reading since April. Other reports in the US also disappointed, with the National Association of Realtors saying its pending home sales i...

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