NZ dollar bounces back from lows as Bernanke overreaction mulled

Thu, 23 May 2013

May 24 (BusinessDesk) – The New Zealand dollar rebounded from an eight-month low, after failing to break below 80 US cents, as some traders deemed the initial response to Federal Reserve chairman Ben Bernanke’s comments on a possible end to quantitative easing was an over-reaction. The kiwi dollar rose to 81.38 US cents from 80.26 cents at 5pm in Wellington yesterday. The trade-weighted index rebounded to 76.73 from 76.06. The kiwi fell as low as 80.04 US cents late yesterday after a survey suggested China’s manufacturing sector is contracti...

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