NZ dollar weakens as traders bank profits heading into quiet holiday period

Wed, 23 Dec 2015

By Tina Morrison Dec. 24 (BusinessDesk) - The New Zealand dollar weakened overnight as traders who had benefited from its recent strength took profits in the absence of any data likely to push it higher heading into the Christmas holiday period. The kiwi declined to 67.86 US cents at 8am in Wellington, from 68.14 cents at 5pm yesterday. The trade-weighted index fell to 73.79 from 74.02 yesterday. The local currency has advanced 0.9 percent so far this week as a string of weaker US economic data kept the greenback out of favour. Traders...

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