NZ dollar poised for 0.5 percent weekly fall as US data tarnishes QE3 expectations

Fri, 17 Aug 2012

By Paul McBeth Aug. 17 (BusinessDesk) - The New Zealand dollar is poised for a 0.5 percent weekly decline as signs of life in the US economy have taken the gloss of expectations for a third round of money printing by the Federal Reserve. The kiwi traded at 80.91 US cents at 5pm in Wellington from 80.97 cents at 8am and 80.59 cents yesterday. The trade-weighted index rose to 72.99 from 72.81, and is poised for a 0.1 percent weekly gain. The currency pared its weekly drop after Germany Chancellor Angela Merkel publicly backed the European Ce...

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