NZ dollar rises back to 75 US cents after US GDP underwhelms

Sun, 30 Jul 2017

By Jonathan Underhill July 31 (BusinessDesk) - The New Zealand dollar rose against a broadly weaker greenback, which fell after gross domestic product grew less than expected in the second quarter and first-quarter growth was revised lower. The kiwi traded at 74.99 US cents as at 8am in Wellington, having reached 75.23 cents in New York on Friday from 74.75 cents in Asia at the end of last week. The trade-weighted index was at 78.97 from 79.04 in New York. US GDP rose an annualised 2.6 percent in the second quarter versus expectations...

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