NZ dollar falls in face of wider current account gap, Cyprus impasse

Wed, 20 Mar 2013

March 20 (BusinessDesk) – The New Zealand dollar extended its slide after figures showed the current account deficit widened more than expected in the fourth quarter and the bailout impasse in Cyprus kept the US dollar well bid. The kiwi dollar fell to 82.28 US cents in late New Zealand trading from 82.51 cents immediately before the balance of payments figures. The trade-weighted index fell to 75.78 from 75.92 over the same period. The current account deficit widened to an annual $10.5 billion in the fourth quarter, or 5 percent of gross do...

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