NZ dollar falls after economic growth meets forecasts, Fed sees faster rate hikes next year

Thu, 20 Mar 2014

By Paul McBeth March 20 (BusinessDesk) - The New Zealand dollar fell as local economic growth met market expectations, while a more upbeat Federal Reserve signalled steeper interest rate increases as the world’s biggest economy shows more signs of life. The kiwi fell to 85.24 US cents at 5pm in Wellington from 85.51 cents at 8am and 86.21 cents yesterday. The trade-weighted index declined to 79.88 from 80.22 yesterday. New Zealand’s economy grew 0.9 percent in the three months ended Dec. 31, led by an expanding manufacturing sector, accor...

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