NZ dollar drops as US signals end to quantitative easing, GDP looms

Wed, 19 Jun 2013

By Tina Morrison June 20 (BusinessDesk) – The New Zealand dollar fell to a week low as the Federal Reserve signalled an end to its quantitative easing programme which has debased the greenback. The kiwi slid to 78.49 US cents, the lowest since June 12. The local currency recently bought 78.86 US cents, down from 79.88 at 5pm in Wellington yesterday. The trade-weighted index weakened to 73.90 from 74.12 yesterday. Fed chairman Ben Bernanke said the central bank may reduce its US$85 billion a month bond buying programme this year and end it n...

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