NZ dollar extends decline after Fed continues tapering, ahead of RBNZ interest rate decision

Wed, 29 Jan 2014

By Tina Morrison Jan 30 (BusinessDesk) – The New Zealand dollar extended its decline after the Federal Reserve announced plans to continue to wind back its monetary stimulus despite volatility in emerging markets. The decision comes just one hour before New Zealand’s central bank reviews interest rates. The kiwi slipped to 82.38 US cents at 8:20am from 82.75 cents immediately before the 8am announcement and 82.81 cents at 5pm yesterday. The trade-weighted index slipped to 77.95 from 78.38 yesterday. The Fed said it would reduce its monthly b...

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