NZ dollar falls over half a US cent as Key talks down currency

Tue, 07 Aug 2012

By Hannah Lynch Aug. 8 (BusinessDesk) - The New Zealand dollar fell over half a US cent after Prime Minister John Key indicated the kiwi has room to fall and its current strength could stifle the local economy. The New Zealand dollar fell to 81.46 US cents at 8am from 82.02 cents yesterday at 5pm. The trade weighted index decreased to 73.22 from 73.54. The kiwi has been one of the best-performing Group of 10 currencies this year, pushing toward new highs on all the crosses except against Australia’s dollar. Key told Bloomberg that one-way...

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