NZ dollar drops on the week as QE curtailment boosts greenback

Fri, 17 May 2013

By Paul McBeth May 17 (BusinessDesk) - The New Zealand dollar is heading for a 2.1 percent weekly fall against the greenback as investors flock to the US currency on growing expectations the Federal Reserve will start unwinding its money printing programme this year. The kiwi sank to 81.10 US cents at 5pm in Wellington from 81.58 cents this morning, down from 82.48 cents yesterday. The trade-weighted index declined to 77.40 from 77.60, and is heading for a 0.2 percent weekly fall. A BusinessDesk survey of five strategists on Monday predict...

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