New Zealand dollar hovers at 200-day moving average as traders ponder direction

Sun, 10 Aug 2014

By Tina Morrison Aug. 11 (BusinessDesk) - The New Zealand dollar hovered around its 200-day moving average of 84.60 US cents as traders mull whether its 3.9 percent decline over the past month was enough. The kiwi traded at 84.60 US cents at 8am in Wellington, from 84.56 cents at the New York close and 84.44 cents at 5pm in Wellington on Friday. The trade-weighted index advanced to 79.34 from 79.26 on Friday. The New Zealand dollar has been in decline since touching a high of 88.35 US cents last month amid weakening commodity prices, a...

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