NZ dollar heads for 1.7 percent weekly gain as US stalemate ends, shut-down to delay Fed tapering

Fri, 18 Oct 2013

By Paul McBeth Oct. 18 (BusinessDesk) - The New Zealand dollar is heading for a 1.7 percent weekly gain after markets rallied on the end to the US political stalemate over approving the Federal budget, which caused a partial shutdown of services and will likely lead to a delay in winding back monetary stimulus in the world’s biggest economy. The kiwi rose to 84.56 US cents at 5pm in Wellington from 83.16 cents at the start of the week. It slipped from 85.25 cents at 8am, and was little changed from 84.24 cents yesterday. The trade-weighted...

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