NZ dollar holds gains as Bernanke sticks to slow tapering story

Wed, 20 Nov 2013

By Paul McBeth Nov. 20 (BusinessDesk) - The New Zealand dollar held gains in local trading after departing US Federal Reserve chair Ben Bernanke said the central bank can be patient about removing its massive stimulus programme until economic recovery is in full-swing, ahead of minutes to its last policy meeting. The kiwi traded at 83.45 US cents at 5pm in Wellington from 83.43 cents at 8am, up from 83.10 cents yesterday. The trade-weighted index advanced to 77.71 from 77.55 yesterday. The Fed will retain its “highly accommodative policies...

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