NZ dollar pares gains on bigger current account deficit, Fed meeting looms

Wed, 20 Jun 2012

By Paul McBeth June 20 (BusinessDesk) - The New Zealand dollar pared gains from a seven-week high after the country's current account deficit was bigger than expected in the first quarter and ahead of the Federal Reserve's monetary policy meeting which may unveil extra stimulus for the world's biggest economy. The kiwi fell to 79.49 US cents at 5pm from 79.75 cents just before 8am, and was up from 79.31 cents yesterday. The trade weighted index was little changed at 71.59 from 71.63 yesterday. New Zealand's current account deficit widened t...

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