NZ dollar falls as Bernanke shies off QE3, saps investor optimism

Fri, 08 Jun 2012

By Paul McBeth June 08 (BusinessDesk) - The New Zealand dollar ended a five-day rally as US Federal Reserve chair Ben Bernanke shied away from hinting at injecting more stimulus into the world's biggest economy, sapping investors' confidence for riskier, or higher-yielding, assets. The kiwi fell to 76.37 US cents at 5pm from 76.65 US cents at 8am and 77.05 cents yesterday. The trade-weighted index dropped to 69.64 from 70.07 yesterday. The currency is poised for a 1.4 percent weekly gain against the greenback and a 1 percent increase on the...

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