NZ dollar extends decline as Fed’s view on tapering looms large

Tue, 18 Jun 2013

By Paul McBeth June 18 (BusinessDesk) - The New Zealand dollar fell in local trading as investors await the Federal Reserve’s official view on whether it will start winding back its US$85 billion a month asset purchases this year. The kiwi fell to 79.87 US cents at 5pm in Wellington from 80.05 cents at 8am and 80.80 cents yesterday. The trade-weighted index declined to 74.06 from 74.78. Investors are waiting for the Federal Open Market Committee to wrap up its two-day meeting reviewing monetary, when Fed chairman Ben Bernanke is expected...

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