NZ dollar heads for 0.4% decline as greenback strengthens on yen

Fri, 21 Nov 2014

By Tina Morrison Nov. 21 (BusinessDesk) - The New Zealand dollar is headed for a 0.4 percent decline this week as a weaker yen strengthened the US dollar, pulling all other currencies down against it. The kiwi slid to 78.81 US cents at 5pm from 79.15 cents at 8am on Monday. The trade-weighted index edged lower to 78.29 from 78.38 on Monday. The yen plunged to a seven-year low against the greenback after Japanese prime minister Shinzo Abe called a snap election and postponed plans to hike the consumer tax for a second time as he seeks a...

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