NZ dollar may extend decline as prospect of ECB stimulus fuels greenback

Thu, 29 May 2014

By Paul McBeth May 29 (BusinessDesk) - The New Zealand dollar may extend its decline as the prospect of European Central Bank stimulus next week stokes demand for the greenback, while sliding business confidence locally saps demand for the kiwi. The local currency fell to,84.80 US cents at 5pm in Wellington from 84.95 cents at 8am and 85.36 cents yesterday. The trade-weighted index dropped to 79.17 from 79.71 yesterday. The kiwi fell to a two-month low 84.68 US cents yesterday after the greenback rallied on weak German employment data,...

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