NZ dollar may decline in third quarter, prompting importers to hedge ahead of Christmas

Wed, 09 Jul 2014

By Tina Morrison July 10 (BusinessDesk) - The New Zealand dollar may weaken in the third quarter, prompting importers to buy the currency while it is hovering near record highs as they gear up for Christmas, their busiest season. The kiwi, which today touched a fresh three-year high of 88.29 US cents, may slip to 85 cents by the end of September as higher local interest rates are offset by a strengthening US economy, according to the median forecast in a BusinessDesk survey of 18 currency traders and strategists. For New Zealand retail...

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