NZ dollar rises to five-week high as weaker US, UK data seen keeping interest rates low

Mon, 05 Oct 2015

By Paul McBeth Oct. 6 (BusinessDesk) - The New Zealand dollar rose to a five-week high as weaker-than-expected service sector indicators in the US and UK raised questions about how quickly those two economies will return to normal monetary policy, and stoked investors' appetite for risk-sensitive assets. The kiwi touched 65.30 US cents, the highest since Aug. 25, and traded at 65.04 cents at 8am in Wellington from 64.65 cents yesterday. The trade-weighted index advanced to 70.62 from 70.26 yesterday. Service sector PMIs in the US and U...

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