WELLINGTON - The New Zealand dollar jumped by more than one cent over the Queen's Birthday holiday weekend, driven by signs that red-hot growth in the United States has eased.
Asian buying helped push the kiwi offshore to 46.85USc. It had closed at 45.68USc on Friday.
One Sydney dealer said: "There was a little bit of selling first up but basically it is Asian money investing that has pushed up to 46.85USc at the moment."
The US dollar was lower across the board on Friday, following a soft employment report hinting that the roaring US economy might finally be slowing and that the pace of interest-rate rises would slacken.
- NZPA
Slowing of US economy boosts kiwi offshore
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