NZ Dollar Outlook Kiwi may advance as 6.5 percent slide in May seen as overdone

Tue, 04 Jun 2013

By Tina Morrison June 4 (BusinessDesk) – The New Zealand dollar may advance against the greenback this week as investors bet a slide in the local currency last month was overdone. The kiwi recently traded at 80.74 US cents from 80.68 cents at 5pm yesterday. The local dollar may trade in a range of 79.36 US cents to 83 US cents this week, with a positive bias, according to a BusinessDesk survey of eight strategists and traders. The New Zealand dollar slumped 6.5 percent in May on the expectation improving economic data out of the US may prom...

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