NZ dollar heads for 0.5% weekly decline on brighter US economy, slowing local growth

Fri, 29 Aug 2014

By Paul McBeth Aug. 29 (BusinessDesk) - The New Zealand dollar is heading for a 0.5 percent weekly decline against the greenback as the US economy continues to gain momentum, spurring expectations for higher US rates, while the local growth outlook loses its lustre. The kiwi fell to 83.67 US cents at 5pm in Wellington from 84.07 cents on Friday in New York last week. It was down from 83.82 cents at 8am and 83.91 cents yesterday. The trade-weighted index fell to 78.90 from 79.06 yesterday, and is heading for a 0.5 percent weekly decline fr...

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