NZ dollar heads for 1.9% weekly fall after RBNZ trims rate outlook

Fri, 12 Sep 2014

By Paul McBeth Sept. 12 (BusinessDesk) - The New Zealand dollar is heading for a 1.9 percent fall against the greenback this week after the Reserve Bank cut its forecast track for future rate hikes, eroding the appeal of the local currency. The kiwi fell to 81.68 US cents at 5pm in Wellington from 83.26 on Friday in New York last week. It traded at 81.71 US cents at 8am and 81.87 cents yesterday. The trade-weighted index was at 78.43 from 78.38 yesterday, and is heading for a 0.4 percent weekly decline. A BusinessDesk survey of 10 curr...

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