NZ dollar slips as Australian retail sales miss expectations

Mon, 04 Apr 2016

By Paul McBeth April 4 (BusinessDesk) - The New Zealand dollar fell in tandem with its trans-Tasman counterpart after flat Australian retail sales fell short of expectations and eroded demand for both currencies. The kiwi slipped to 68.76 US cents at 5pm in Wellington from 68.88 cents at 8am and 68.98 cents on Friday in New York. The trade-weighted index dropped to 72.67 from 72.88 last week. The Australian dollar dropped almost half a US cent after Bureau of Statistics figures showed flat retail sales in February, missing expectation...

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