NZ dollar hits 8 ½ mth low as improving US economy spurs speculation of end to QE

Sun, 19 May 2013

By Tina Morrison May 20 (BusinessDesk) - The New Zealand dollar dropped to an eight-and-a-half-month low on optimism an improving economic outlook in the US may prompt that nation's central bank to end its quantitative easing policy. The kiwi fell to 80.62 US cents from 80.68 cents on Friday in New York and 81.10 at 5pm in Wellington. It touched 80.58 cents late Friday, its lowest level since September last year. The trade-weighted index slid to 76.32 from 77.40 on Friday. Reports on Friday showed Americans felt better about their economic a...

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