NZ dollar touches 2-month high, approaches 87.50 US cents, after Chinese PMI

Mon, 23 Jun 2014

By Tina Morrison June 24 (BusinessDesk) - The New Zealand dollar touched a two-month high overnight, approaching 87.50 US cents, after a measure of Chinese manufacturing was stronger than expected, boosting sentiment about Asia's largest economy. The kiwi touched 87.48 US cents overnight, its highest level since May 6 when it reached 87.79 cents, the highest in more than two-and-a-half years. The local currency was trading at 87.12 US cents at 8am in Wellington, from 87.32 cents at 5pm yesterday. The trade-weighted index slipped to 81.01...

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