NZ dollar heads for 2.8% slide vs greenback as Wheeler talks down kiwi, dairy payout cut

Fri, 26 Sep 2014

By Paul McBeth Sept. 26 (BusinessDesk) - The New Zealand dollar is heading for a 2.8 percent slide against the greenback this week after Reserve Bank governor Graeme Wheeler jawboned down the kiwi and Fonterra Cooperative Group cut its forecast payout to farmers, as global investors start eyeing higher interest rates in the US. The kiwi fell to 78.98 US cents at 5pm in Wellington from 81.24 cents on Friday in New York last week. It traded at 79.08 cents at 8am and 79.92 cents yesterday. The trade-weighted index fell to 76.83 from 77.60 ye...

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