NZ dollar heads for 2.4 percent weekly fall as trans-Tasman currencies fall from favour

Fri, 07 Jun 2013

By Paul McBeth June 7 (BusinessDesk) - The New Zealand dollar is heading for a 2.4 percent weekly drop as the trans-Tasman currencies fall out of favour amid growing signs of a slow-down in Australia and speculation the US Federal Reserve will pull back on printing money. The kiwi fell to 79.69 US cents at 5pm in Wellington from 79.53 cents at 8am and 79.09 cents yesterday. The trade-weighted index fell to 74.25 from 74.41 yesterday and 76.08 last week. The Australian dollar fell as low as 94.65 US cents, trading at 94.99 cents at 5pm in...

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