NZ dollar stays on the backfoot after weak employment figures

Wed, 02 Aug 2017

By Paul McBeth Aug. 3 (BusinessDesk) - The New Zealand dollar remained under pressure after yesterday's weaker than expected employment data added to the view that the Reserve Bank has plenty of scope to keep interest rates on hold for a protracted period. The kiwi traded near a week-low at 74.33 US cents as at 8am in Wellington from 74.28 cents yesterday. The trade-weighted index was at 78.10 from 78.16 yesterday. Government figures yesterday showed employment shrank 0.2 percent in the June quarter, surprising economists who had bee...

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