NZ dollar advances as Federal Reserve likely to start modest tapering this week

Mon, 16 Sep 2013

By Tina Morrison Sept 16 (BusinessDesk) – The New Zealand dollar advanced as investors pare back expectations for the Federal Reserve to start tapering its monetary stimulus programme at a meeting this week. The kiwi gained to 81.34 US cents at 8am in Wellington from 81.24 cents at the New York close and 81.15 cents at the 5pm market close in Wellington on Friday. The trade-weighted index rose to 76.45 from 76.38 on Friday. Most currency strategists and traders expect improving US economic data will prompt the Fed to pull back its US$85 bill...

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