NZ dollar pares gains from 80 cents after Fed fails to give explicit stimulus signal

Wed, 11 Jul 2012

By Jonathan Underhill July 12 (BusinessDesk) - The New Zealand dollar fell from near 80 US cents after the minutes of the Federal Reserve’s June meeting failed to give any explicit signal on further stimulus for the world’s biggest economy, sapping the appeal of growth-linked currencies. The kiwi dollar recently traded at 79.50 US cents, from 79.44 cents at 5pm in Wellington yesterday. It traded as high as 79.98 cents ahead of the release of the FOMC minutes. The trade-weighted index was at 72.31 from 72.28. While the Fed expressed concern a...

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