NZ dollar gains as sell-off over Fed tapering slows down

Thu, 04 Jul 2013

By Paul McBeth July 4 (BusinessDesk) - The New Zealand dollar gained against the greenback as investors slowed down the liquidation of their trans-Tasman holdings, which they embarked on amid growing expectations the Federal Reserve will start unwinding its money printing programme. The kiwi rose to 77.79 US cents at 5pm from 7.68 cents at 8am and 77.41 cents yesterday. The trade-weighted index rose to 74.07 from 73.85 yesterday. The Australian dollar hit a three-year low and the kiwi is near 12-month lows since investors decided to return...

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