NZ Dollar Outlook Kiwi may fall this week as global growth dims, long bets wrong-footed

Mon, 22 Apr 2013

April 22 (BusinessDesk) – The New Zealand dollar may fall this week as signs of weaker global growth wrong-foot record bets on further gains in the kiwi. The local dollar recently traded at 84.05 US cents from 84.19 cents in New York on Friday. The trade-weighted index fell to 77.79 from 77.91. The kiwi may trade in a range of 83.30 US cents to 85 cents this week, according to a BusinessDesk survey, and is more likely to test the lower end of that range. Net long positions on the New Zealand dollar, or bets the currency is going to rise, re...

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