NZ dollar falls as weak US data, rumours of Spanish downgrade sap investor optimism

Sun, 30 Sep 2012

Oct. 1 (BusinessDesk) - The New Zealand dollar fell after weak US data and speculation Spain's credit rating may be cut to junk eroded investors' appetite for higher-yielding, or riskier, assets. The kiwi fell to 82.82 US cents at 8.30am from 82.97 cents on Friday in New York, and was little changed at 73.81 on a trade-weighted basis from 73.91 last week. Wall Street's Standard & Poor's 500 Index fell 0.5 percent on Friday after the Chicago PMI showed shrinking activity last month and weaker-than-expected consumer confidence. Sentiment was...

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