NZ dollar edges up this week as Yellen confirms Fed tapering caution

Fri, 15 Nov 2013

By Paul McBeth Nov. 15 (BusinessDesk) - The New Zealand dollar is heading for 0.6 percent gain this week after US Federal Reserve chair nominee Janet Yellen said she doesn’t plan on unwinding the central bank’s massive stimulus programme while the economic recovery is fragile. The kiwi rose to 82.91 US cents at 5pm in Wellington from 82.40 cents at the close of trading last week, and is little changed from 82.77 cents at 8am and 82.87 cents yesterday. The trade-weighted index was 77.55 from 77.43 yesterday, almost unchanged on the week. A...

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