NZ dollar falls as greenback holds near 11-month high, quake costs assessed

Wed, 16 Nov 2016

By Jonathan Underhill Nov. 16 (BusinessDesk) - The New Zealand dollar fell as the greenback held near its highest levels in 11 months on speculation a Republican Party in control of government will cut taxes and spend more on infrastructure, stoking US growth, inflation and interest rates. The local currency fell to 70.92 US cents as at 5pm in Wellington from 71.11 cents late yesterday. The trade-weighted index fell to 77.36 from 77.47. US president-elect Donald Trump has proposed spending US$550 billion on infrastructure and had talke...

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