NZ dollar falls as signs US economy is recovering spurs demand for greenback

Mon, 13 May 2013

By Tina Morrison May 14 (BusinessDesk) -The New Zealand dollar declined after better-than-expected US retail sales added to confidence the world's largest economy is expanding, reducing demand so-called growth assets outside of the US including the kiwi. The kiwi dollar fell to 82.53 US cents from 83.05 cents yesterday. The trade-weighted index weakened to 77.19 from 77.67. A report late yesterday showed US retail sales posted a surprise gain of 0.1 percent last month, compared with expectations of a 0.3 percent drop and a 0.5 percent declin...

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