NZ dollar declines as greenback advances on better growth, amid intervention talk

Sun, 28 Sep 2014

By Tina Morrison Sept. 29 (BusinessDesk) - The New Zealand dollar fell to a fresh one-year low as the greenback advanced after a report showed US economic growth accelerated at the fastest rate since late 2011, amid speculation the Reserve Bank may have intervened to push down the value of the local currency. The kiwi touched a low of 78.54 US cents, and was trading at 78.64 cents at 8am in Wellington, from 78.61 cents at the New York close and 79.02 cents at 5pm on Friday. The trade-weighted index slipped to 76.69 from 76.88 on Friday....

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