NZ dollar climbs to 3-week high after Bernanke talks down QE tapering

Thu, 11 Jul 2013

By Paul McBeth July 11 (BusinessDesk) - The New Zealand dollar rose above 79 US cents for the first time in three weeks after US Federal Reserve chairman Ben Bernanke talked down the prospect of unwinding his money printing programme, sparking a sell-off in the greenback. The kiwi climbed to 79.52 US cents at 5pm in Wellington from 77.96 cents at 8am and 78.51 cents yesterday. The trade-weighted index fell to 75.10 from 75.40. The US economy still needs “highly accommodative monetary policy for the foreseeable future,” Bernanke said in a...

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