NZ dollar drops on report ECB mulling negative interest rates, Fed still watching data

Wed, 20 Nov 2013

By Paul McBeth Nov. 21 (BusinessDesk) - The New Zealand fell more than half a US cent after reports the European Central Bank was considering negative interest rates, and after the Federal Reserve reiterated that it is watching economic data closely before winding back its stimulus programme. The kiwi dropped to 82.75 US cents at 8am in Wellington from 83.45 cents at 5pm yesterday. The trade-weighted index declined to 77.40 from 77.71 yesterday. Europe’s monetary authority may consider try to kick the regional economy into life by taking...

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