NZ dollar falls to three-week low, likely to extend decline on Fed tapering, LVR restrictions

Thu, 22 Aug 2013

By Tina Morrison Aug. 23 (BusinessDesk) – The New Zealand dollar will likely extend its 3.3 percent decline this week as the Federal Reserve moves closer to tapering its bond buying programme and as pending limits on low equity mortgage lending in New Zealand dampen expectations for interest rate hikes. The kiwi fell to a three week low of 78.02 US cents, and was at 78.29 cents at 8am in Wellington, from 78.38 cents at 5pm yesterday. The trade-weighted index weakened to 73.98 from 74.05. Demand for New Zealand’s currency is waning amid expec...

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