NZ dollar drifts lower as investors eye outlook for Fed tapering in 2014

Mon, 30 Dec 2013

By Tina Morrison Dec. 30 (BusinessDesk) - The New Zealand dollar is drifting lower in quiet holiday trading as investors bet the greenback is set to advance next year as the Federal Reserve pulls back on its monetary stimulus. The kiwi slipped to 81.32 US cents at 5pm in Wellington from 81.55 cents at 8am. The trade-weighted index weakened to 77 from 77.18 this morning. Investors will be keeping an eye on Fed speakers this week for clues as to the future pace of monetary stimulus in the world’s largest economy after the US central bank earli...

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