NZ dollar heads for 1.8 percent weekly decline as market sentiment sours

Fri, 19 Apr 2013

By Paul McBeth April 19 (BusinessDesk) - The New Zealand dollar is heading for a 1.8 percent fall against the greenback as optimism about the health of the global economy fades, sapping demand for risk-sensitive assets. The kiwi rose to 84.34 US cents at 5pm in Wellington from 84.11 cents at 8am, down from 84.52 cents yesterday. The trade-weighted index fell to 77.81 at 5pm from 78 and is heading for a 1.7 percent decline. Weak US corporate earnings, soft American data and a collapse in the price of previous metals took the wind out of inv...

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