NZ dollar drifts lower as investors mull US recovery; RBNZ financial stability report eyed

Tue, 12 Nov 2013

By Paul McBeth Nov. 12 (BusinessDesk) - The New Zealand dollar drifted lower in local trading as investors mull the prospects of the US economic recovery and look ahead to tomorrow’s financial stability report from the Reserve Bank. The kiwi fell to 82.30 US cents at 5pm in Wellington from 82.43 cents at 8am and 82.82 cents yesterday. The trade-weighted index slipped to 77.05 from 77.41 yesterday. Investors are weighing up the prospects for the US Federal Reserve to start tapering its monetary stimulus after last Friday’s strong jobs repo...

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