NZ dollar heads for 1.3% weekly gain vs. greenback after Fed warning

Fri, 10 Oct 2014

By Paul McBeth Oct. 10 (BusinessDesk) - The New Zealand dollar is heading for a 1.3 percent weekly gain against the greenback after the Federal Reserve warned a stronger US currency poses a risk to its economic recovery. The kiwi traded at 78.61 US cents at 5pm in Wellington from 77.62 cents on Friday in New York last week. It traded at 78.53 cents at 8am and 79.40 cents yesterday. The trade-weighted index was at 76.48 from 76.96 yesterday, and is heading for a 0.3 percent weekly decline from 76.68 at last week's close. The greenback s...

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