NZ dollar falls after Fed starts to slow its money printing programme

Thu, 19 Dec 2013

By Paul McBeth Dec. 19 (BusinessDesk) - The New Zealand dollar fell after the Federal Reserve trimmed its asset purchase programme in the face of a recovering US economy, in the first step towards ending stimulus which has been debasing the greenback. The kiwi fell to 81.80 US cents at 5pm in Wellington from 82.47 cents at 8:10am and 82.50 cents yesterday. The trade-weighted index declined to 77.51 from 77.78 yesterday. The Fed will cut its monthly purchases of bonds and mortgage backed securities by US$10 billion to US$75 billion as the...

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