NZ dollar falls as US political stalemate erodes investor appetite for risk

Thu, 10 Oct 2013

By Paul McBeth Oct. 10 (BusinessDesk) - The New Zealand dollar fell in local trading as the protracted stalemate between US legislators to prevent a debt default keeps investors nervous, and unwilling to back higher-yielding, or riskier, assets. The kiwi fell to 82.54 US cents at 5pm in Wellington from 83.02 cents at 8am and 82.95 cents yesterday. The trade-weighted index edged down to 76.79 from 76.87 yesterday. The yield on US 10-year Treasuries rose 2.6924 percent at 5pm in Wellington from 2.6430 percent yesterday as investors mull whe...

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