NZ dollar holds above 83 US cts as fiscal cliff euphoria settles down

Thu, 03 Jan 2013

By Paul McBeth Jan. 3 (BusinessDesk) - The New Zealand dollar held above 83 US cents in local trading today after global market euphoria abated on US politicians averting the US$600 billion fiscal cliff during the New Year holiday. The kiwi rose to 83.21 US cents at 5pm in Wellington from 83.02 cents at 8am, and was down from 83.73 cents yesterday in Asia. The trade-weighted index decreased to 74.75 from 74.96. Markets around the world rallied yesterday after US politicians reached a budget agreement of sorts to prevent automatic spending...

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