NZ dollar drops as investors bet Federal Reserve may taper as early as September

Sun, 30 Jun 2013

By Tina Morrison July 1 (BusinessDesk) – The New Zealand dollar dropped as investors bet the Federal Reserve may reduce its bond buying programme as early as September. The kiwi slipped to 77.06 US cents, from 77.38 cents in late New York trading and 78.01 cents at 5pm in Wellington on Friday. The trade weighted index weakened to 73.34 from 73.78 on Friday. The Dollar Index, which measures the greenback against six major trading partners, closed at a month high last week after Federal Reserve Governor Jeremy Stein said the central bank may m...

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