NZ dollar heads for 0.7% weekly fall on prospect of slower rate hikes

Fri, 23 May 2014

By Paul McBeth May. 23 (BusinessDesk) - The New Zealand dollar is heading for a 0.7 percent weekly decline as improving prospects for global growth buoyed the greenback, and left traders to mull the prospect of a slower cycle of local interest rate hikes. The kiwi fell to 85.62 US cents at 5pm in Wellington from 86.21 cents last Friday in New York. It traded at 85.61 cents at 8am, down from 85.82 cents yesterday. The trade-weighted index was at 79.91 from 79.98 yesterday, and is heading for a 0.4 percent weekly decline. A BusinessDesk...

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