NZ dollar heads for 1.3 percent weekly decline on TWI basis after central bank meetings

Fri, 31 Jan 2014

By Paul McBeth Jan. 31 (BusinessDesk) - The New Zealand dollar is heading for a 1.3 percent fall on a trade-weighted basis this week after the Reserve Bank kept interest rates on hold and the Federal Reserve trimmed another US$10 billion from its bond buying programme. The trade-weighted index fell to a month-low, trading at 77.26 at 5pm in Wellington from 78.31 at the close of trading last week, and was down from 77.44 yesterday. The kiwi traded at 81.51 US cents at 5pm from 81.41 cents at 8am, down from 81.78 cents yesterday. It’s heading...

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