NZ dollar drops in volatile markets amid uncertainty about Fed direction

Thu, 16 Oct 2014

By Tina Morrison Oct. 17 (BusinessDesk) - The New Zealand dollar weakened in volatile trading amid investor uncertainty about the policy direction of the US Federal Reserve. The kiwi traded between 78.84 US cents and 79.96 cents overnight and was at 79.41 cents at 8am in Wellington from 79.73 cents at 5pm yesterday. The trade-weighted index slipped to 76.94 from 77.20 yesterday. Currency markets were volatile overnight after conflicting signals from Fed officials about whether the US may continue its stimulus programme for a longer per...

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