The NZ dollar strengthened against the other major currencies and held steady thereafter in the Asian session on Thursday after data showed that the retail sales in New Zealand rose more than expected. Data from the Statistics New Zealand showed that the total volume of retail sales in New Zealand climbed a seasonally adjusted 1.2 percent on quarter in the second quarter of 2014. That topped forecasts for an increase of 1.0 percent following the upwardly revised 0.8 percent gain in the first quarter (originally 0.7 percent). The total value of retail sales gained 1.0 percent. Meanwhile, the manufacturing sector in New Zealand continued to expand in July, albeit at a slightly slower pace with a score of 53.0, the latest Performance of Manufacturing Index from Business NZ showed. The NZ dollar rose to a 6-day high of 0.8487 against the U.S. dollar, from an early low of 0.8453 and held steady thereafter. Moving away from an early low of 86.58 against the yen, the kiwi climbed to a 9-day
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