NZ dollar falls to 3-month low as investors pull back bets on rate hikes

Mon, 02 Jun 2014

By Tina Morrison June 3 (BusinessDesk) - The New Zealand dollar fell to a three-month low as investors pulled back their expectations for future interest rate increases, decreasing the lure of the local currency. The kiwi touched 84.37 US cents, and was trading at 84.50 cents at 8am in Wellington from 84.68 cents at 5pm yesterday when local banks were closed for the Queens Birthday public holiday. The New Zealand dollar has declined 2.6 percent the past month as investors pared pack their expectations for the pace of interest rate incr...

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