NZ dollar declines after Bernanke says Fed may taper QE on signs of sustained improvement

Wed, 22 May 2013

By Tina Morrison May 23 (BusinessDesk) - The New Zealand dollar fell after US Federal Reserve Chairman Ben Bernanke said the central bank may taper monthly bond purchases at its next few meetings if it’s confident of sustained gains in the economy. The kiwi dropped to 80.64 US cents from 81.47 cents at 5pm in Wellington yesterday. The trade-weighted index fell to 76.38 from 76.82 yesterday. The Dollar Index, a measure of the greenback against a basket of currencies, reached its highest in almost three years as investors anticipate the Fed w...

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