NZ dollar little changed as investors await direction on Fed tapering

Mon, 23 Sep 2013

By Tina Morrison Sept. 24 (BusinessDesk) – The New Zealand dollar traded in a narrow range as investors look for signals indicating when the US Federal Reserve is likely to start tapering its US$85 billion a month monetary stimulus programme. The kiwi edged up to 83.75 US cents at 8am in Wellington from 83.63 cents at the 5pm market close yesterday, having traded in a tight 37 basis point range overnight. The trade-weighted index advanced to 77.94 from 77.86 yesterday. The Fed last week unexpectedly chose not to pare back its bond buying pr...

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