NZ dollar slips as Fed holds fire on tapering; hits new high vs. Australian dollar

Thu, 01 Aug 2013

By Paul McBeth Aug 1 (BusinessDesk) - The New Zealand dollar slipped after the Federal Reserve stayed mum on plans to withdraw stimulus later this year, while hitting a new five-year high against the Australian dollar as the trans-Tasman economies keep diverging. The kiwi fell to 79.65 US cents at 5pm in Wellington from 79.85 cents at 8am and 79.77 cents yesterday. It rose as high as 89.05 Australian cents, trading at 88.85 cents at 5pm from 88.30 cents yesterday. Fed chairman Ben Bernanke didn’t offer any hints on plans to taper the cent...

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