CORRECT: NZ dollar drops 2% in 2 hours on more upbeat Fed, cautious RBNZ

Thu, 30 Oct 2014

(Corrects to show low in kiwi in second graph.) By Paul McBeth and Tina Morrison Oct. 30 (BusinessDesk) - The New Zealand dollar dropped about 2 percent in just two hours this morning after the Federal Reserve gave a more upbeat than expected assessment of the US economy and New Zealand's Reserve Bank gave no signal it would need to raise interest rates. The kiwi tumbled after each central bank event, to touch a low of 77.66 US cents. It recently traded at 77.95 US cents, from 78.13 cents before the RBNZ's 9am statement and 79.37 cents...

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