NZ dollar pares loss after US jobs data stokes prospect of early Fed tapering

Mon, 08 Jul 2013

By Paul McBeth July 8 (BusinessDesk) - The New Zealand dollar pared its losses after better than expected jobs growth in the US stoked expectations the Federal Reserve will slow down its money-printing programme as early as September. The kiwi rose to 77.26 US cents at 5pm in Wellington from 76.87 cents at 8am and 77.05 cents on Friday in New York. The trade-weighted index was 74.21 at 5pm from 74.04 last week. The Dollar Index, a measure of the greenback against a basket of currencies, rose to a three-year high as investors flocked to th...

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