NZ dollar holds near 7-week high as fed stimulus underwhelms, GDP looms

Wed, 20 Jun 2012

By Hannah Lynch June 21 (BusinessDesk) - The New Zealand dollar held near a seven-week high after the Federal Reserve extended its stimulus measures less than some traders expected and ahead of figures expected to show a modest pickup in the local economy. The New Zealand dollar traded at 79.59 US cents in volatile trading following the fed’s statement, up from 79.49 cents at 5pm yesterday. The trade weighted index strengthened to 71.75 from 71.59. Fed policymakers will expand their programme to replace short-term bonds with longer-term de...

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