NZ dollar falls as greenback advances, expectations for local rate hikes pushed out

Tue, 26 Aug 2014

By Tina Morrison Aug. 27 (BusinessDesk) - The New Zealand dollar weakened overnight, weighed down by a rising US dollar and changing expectations for Reserve Bank interest rate rises. The kiwi slipped to 83.24 US cents at 8am in Wellington, from 83.41 cents at 5pm yesterday. The trade-weighed index fell to 78.63 from 78.74 yesterday. The US dollar index, which measures the greenback against a basket of currencies, hit its highest level in 13 months as better than expected US consumer confidence and manufacturing reports reinforced spec...

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