NZ dollar heads for 2.4 percent weekly drop amid upbeat US economic data, jobs figures loom

Fri, 02 Aug 2013

By Paul McBeth Aug 2 (BusinessDesk) - The New Zealand dollar is heading for a 2.4 percent weekly decline amid upbeat US economic data and jobs figures tipped to show an improving labour market, stoking bets the Federal Reserve will start unwinding its monetary stimulus. The kiwi traded at 78.87 US cents at 5pm in Wellington from 78.74 cents at 8am and 79.65 cents yesterday. It started the week at 80.84 cents. The trade-weighted index fell to 75.16 from 75.54 yesterday, and is heading for a 1.1 percent weekly fall from 75.96. Investors are...

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