NZ dollar falls after IMF cuts global growth forecasts

Tue, 09 Oct 2012

By Hannah Lynch Oct. 10 (BusinessDesk) - The New Zealand dollar followed equity markets lower after the International Monetary Fund cut its forecast for global growth, snapping demand for risk-sensitive currencies such as the kiwi. The New Zealand dollar fell to 81.84 US cents at 8am in Wellington from 82.27 cents at 5pm yesterday. The trade weighted index decreased to 73.16 from 73.38 yesterday. The IMF sounded an alarm over the global economic slowdown, cutting its 2012 and 2013 growth forecasts. The global economy will expand 3.3 percen...

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