NZ dollar pares loss as Bernanke’s Wednesday testimony keeps investors wary on QE

Mon, 20 May 2013

By Paul McBeth May 20 (BusinessDesk) - The New Zealand dollar pared its decline in local trading as the prospect of Federal Reserve chairman Ben Bernanke’s Congressional testimony on Wednesday keeps traders wary of taking their greenback support too far. The kiwi rose to 81.20 US cents at 5pm in Wellington from 80.77 cents at 8am and 80.68 on Friday in New York. The trade-weighted index increased to 76.65 from 77.40 last week. The Dollar Index, a measure of the greenback against a basket of currencies, climbed near a three-year high on Fr...

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