NZ dollar declines in quiet trading during US holiday, focus on Fed tapering, NZ house price data

Mon, 11 Nov 2013

By Tina Morrison Nov. 12 (BusinessDesk) – The New Zealand dollar declined in quiet trading during a US holiday as investors mulled the prospects that a stronger US economy will prompt the Federal Reserve to pull back on monetary stimulus. The kiwi slipped to 82.43 US cents at 8am in Wellington, from 82.82 cents at the 5pm market close yesterday. The trade-weighted index weakened to 77.06 from 77.41 yesterday. Investors are mulling the possibility that the Fed may start tapering its US$85 billion a month bond buying programme as early as Dece...

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