NZ dollar heads for 1.4% weekly drop after RBNZ's Wheeler jawbones kiwi

Fri, 25 Jul 2014

By Paul McBeth Jul. 25 (BusinessDesk) - The New Zealand dollar is heading for a 1.4 percent weekly fall against the greenback after Reserve Bank governor Graeme Wheeler talked down the local currency and signalled conditions were ripe for intervention. The kiwi fell to 85.73 US cents at 5pm in Wellington from 86.97 cents on Friday in New York last week. It traded at 85.76 cents at 8am and 85.82 cents yesterday. The trade-weighted index was at 79.93 from 79.91 yesterday, and is heading for a 1.1 percent weekly decline from 80.84. Wheele...

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