NZ dollar falls as weak US consumer spending saps risk appetite

Sun, 14 Apr 2013

April 15 (BusinessDesk) - The soaring New Zealand dollar fell after weaker than expected retail spending in the US sapped investors' appetite for higher-yielding assets, pushing stocks on Wall Street lower on Friday and dragging down risk-sensitive currencies. The kiwi fell to 85.67 US cents at 8.30am in Wellington from 85.88 cents on Friday in New York, and the trade-weighted index declined to 75.63 from 78.79 last week. Stocks on Wall Street halted their week-long rally on Friday after Commerce Department figures showed US retail sales s...

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