NZ dollar holds near two-week low as global concerns trump strong retail sales

Tue, 14 Aug 2012

By Paul McBeth Aug. 14 (BusinessDesk) - The New Zealand dollar held near a two-week low after stronger-than-expected retail sales failed to spur optimism among investors who are downbeat about global growth prospects. The kiwi traded at 80.96 US cents at 5pm in Wellington from 81.90 cents at 8am, down from 81.14 cents yesterday. The trade-weighted index declined to 72.85 from 72.98 yesterday. New Zealand volume of retail trade grew 1.3 percent in the June quarter, almost twice the expected pace, as local consumers ramped up spending on car...

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