NZ dollar falls as China, Europe manufacturing counters Fed euphoria

Thu, 23 Aug 2012

By Jonathan Underhill Aug. 24 (BusinessDesk) – The New Zealand dollar fell from a two-week high as data showing weaker manufacturing in China while factories in Europe remain in contraction took some of the gloss off the increasing certainty that the Federal Reserve will act to stimulate the world’s biggest economy. The kiwi dollar fell to 81.28 US cents from 81.67 cents at 5pm in Wellington yesterday. It traded as high as 81.85 cents overnight. The trade-weighted index fell to 72.85 from 73.15. China’s HSBC Flash PMI, a preliminary gauge of...

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