NZ dollar drops to lowest in almost two weeks as US jobs report brings forward tapering expectations

Sun, 07 Jul 2013

By Tina Morrison July 8 (BusinessDesk) – The New Zealand dollar dropped to its lowest in almost two weeks after strong labour market data in the US boosted expectations the Federal Reserve will starting pulling back its asset purchase programme as early as September. The kiwi slipped to 76.87 US cents from 77.05 cents in late New York trading Friday, when it touched an almost two-week low of 76.86 cents. The kiwi fell from 78.12 cents at the 5pm market close in Wellington Friday. The trade-weighted index fell to 73.87 from 74.59 in Wellingto...

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