NZ dollar gains as Yellen hints at slower Fed tapering

Thu, 14 Nov 2013

By Paul McBeth Nov. 14 (BusinessDesk) - The New Zealand dollar gained in local trading after Federal Reserve chair-nominee Janet Yellen indicated the US central bank won’t back off its money printing programme until the world’s biggest economy and its labour market improve. The kiwi climbed to 82.86 US cents at 5pm in Wellington from 82.55 cents from 82.32 cents yesterday. The trade-weighted index advanced to 77.43 from 77.07 yesterday. In testimony prepared for her nomination hearing before the US Senate tomorrow, Yellen said the Fed has...

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