NZ dollar drops as weak Australian retail sales sap demand for trans-Tasman currencies

Wed, 01 Oct 2014

By Suze Metherell Oct. 1 (BusinessDesk) - The New Zealand dollar fell against the greenback as weak retail data in Australia sapped investors' appetite for the trans-Tasman currencies, and as improving US data stokes demand for the world's reserve currency. The kiwi fell to 77.77 US cents at 5pm in Wellington, from 77.91 cents at 8 am and 78 cents at 5pm yesterday. The trade weighted index rose to 76.13 from 75.98 at 5pm yesterday. The Australian dollar fell, dragging the kiwi lower, after Bureau of Statistics data showed August retail...

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