NZ dollar falls as focus shifts to stalled negotiations to bridge US fiscal cliff

Tue, 27 Nov 2012

By Paul McBeth Nov. 28 (BusinessDesk) - The New Zealand dollar fell as investors sharpened their focus on the stalled negotiations between US policymakers on how to prevent US$607 billion in automatic spending cuts and tax hikes, which may push the world's biggest economy back into recession. The kiwi fell to 81.95 US cents at 8.30am in Wellington from 82.25 cents yesterday. The trade-weighted index declined to 73.39 from 73.50 yesterday. Stocks on Wall Street declined in spite of good economic data as traders grew more pessimistic about l...

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