NZ dollar heads for 1.2 percent monthly decline as markets prepare for Jackson Hole summit

Fri, 31 Aug 2012

By Paul McBeth Aug. 31 (BusinessDesk) - The New Zealand dollar headed for a 1.2 percent monthly decline in the lead-up to the central bankers' summit at Jackson Hole, Wyoming, and as investors get more pessimistic about China's economic fortunes. The kiwi increased to 79.92 US cents at 5pm in Wellington from 79.82 earlier and down from 80.13 cents yesterday. It declined to 71.94 on a trade-weighted basis from 72.05 yesterday. Central bank officials are gathering in Jackson Hole for their annual summit today, with Federal Reserve chair Ben...

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