NZ dollar falls back below 83 cents as commodities slip, US GDP misses estimates

Thu, 28 Feb 2013

March 1 (BusinessDesk) – The New Zealand dollar slipped back below 83 US cents after US growth figures came in lower than economists were expecting, weighing on commodities. The International Monetary Fund said it may cut its US forecast if spending cuts kick in on March 1. The kiwi dollar fell to 82.73 US cents from 83.15 cents at 5pm in Wellington yesterday. The trade-weighted index fell to 75.83 from 75.96. Revised figures showed the US economy grew at a 0.1 percent annual pace in the fourth quarter, missing estimates of 0.5 percent growt...

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