NZ dollar heads for 0.8 percent weekly fall as local rates story, Fed policy weigh

Fri, 21 Feb 2014

By Paul McBeth Feb. 21 (BusinessDesk) - The New Zealand dollar is heading for a 0.8 percent fall this week as traders weigh up the prospect of rising interest rates locally against the prospect of a stronger greenback as the Federal Reserve pulls back on printing money. The kiwi fell to 82.99 US cents at 5pm in Wellington from 83.64 cents at the close of trading last week. It was up from 82.78 cents at 8am and 82.57 cents yesterday. The trade-weighted index fell to 77.99 from 78.73 yesterday, and is heading for a 0.4 percent weekly decline...

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