NZ dollar slides after Fed flags tapering QE, weak local GDP, Chinese slowdown

Thu, 20 Jun 2013

By Paul McBeth June 20 (BusinessDesk) - The New Zealand dollar fell, hit by a triple-whammy of local first-quarter growth coming in at half what economists were expecting, a slowing manufacturing sector in China and the Federal Reserve signalling plans to wind back its bond-buying programme. The kiwi fell to 78.54 US cents at 5pm from 78.84 cents at 8am, and 79.88 cents yesterday. The trade-weighted index sank to 73.74 from 74.12 yesterday. Drought across the North Island caused held back New Zealand’s economy in the first quarter, with gr...

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