NZ dollar may stabilize against greenback should US data point to slower recovery

Mon, 27 May 2013

By Tina Morrison May 28 (BusinessDesk) – The New Zealand dollar may halt its slump against the greenback on signs the world’s largest economy is not yet in a self-sustaining recovery. The kiwi, which has dropped 5.5 percent this month against the US dollar, recently bought 80.86 US cents, from 80.76 cents at 5pm yesterday. The trade-weighted index edged up to 76.34 from 76.23 at 5pm yesterday. Investors will be eyeing data out of the US today for signs of a sustained economic recovery, which Federal Reserve chairman Ben Bernanke said was nee...

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