NZ dollar drops as greenback buoyed by stronger housing, consumer confidence reports

Tue, 24 Jun 2014

By Tina Morrison June 25 (BusinessDesk) - The New Zealand dollar weakened as the US dollar was buoyed by stronger-than-expected US housing and consumer confidence data. The kiwi slipped to 86.82 US cents at 8am in Wellington, from 87.19 cents at 5pm yesterday. The trade-weighted index dropped to 80.82 from 81.08 yesterday. Investor optimism increased about a recovery in the world's largest economy after a report showed new home sales in the US surged 18.6 percent in May, the largest monthly gain since January 1992 and ahead of expectat...

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