RESEND: NZ dollar gains on greenback weakness after IBM disappoints

Mon, 20 Oct 2014

(Fixes typo in 3rd graph) By Tina Morrison Oct. 21 (BusinessDesk) - The New Zealand dollar gained as the greenback declined on concern a nascent economic recovery in the US may be derailed should the Federal Reserve tighten policy too aggressively, after IBM earnings disappointed investors. The kiwi rose to 79.73 US cents at 8am in Wellington, from 79.48 cents at 5pm yesterday. The trade-weighted index advanced to 77.22 from 77.16 yesterday. The US dollar index, which measures the greenback against a basket of currencies, declined o...

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