NZ dollar slumps to 11-month after US jobs growth beats expectations

Sun, 09 Jun 2013

By Tina Morrison June 10 (BusinessDesk) – The New Zealand dollar dropped to its lowest in almost 11 months after a US jobs report showed the world’s largest economy is recovering, spurring demand for the greenback. The kiwi slid to as low as 78.20 US cents, its weakest since July 25 last year. The local currency recently traded at 78.37 cents, down from 78.85 cents on Friday in New York and 79.69 cents at 5pm Friday in Wellington. The trade-weighted index slipped to 73.44 from 74.25 in Wellington on Friday. The US currency gained against mos...

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