NZ dollar little changed after Fed starts modest tapering as NZ GDP looms

NZ dollar little changed after Fed starts modest tapering as NZ GDP looms
By Tina Morrison Dec. 19 (BusinessDesk) – The New Zealand dollar was little changed after the Federal Reserve decided to push the button on a long-awaited reduction of its monetary stimulus programme which has weakened the greenback. The kiwi was little changed at 82.47 US cents at 8:10am in Wellington, following the 8am statement, from 82.50 cents at 5pm yesterday. The trade-weighted index slipped to 77.69 from 77.78 yesterday. The Fed said it would reduce its 15-month-old asset purchase programme by US$10 billion to US$75 billion a month i...