NZ dollar slips as positive US economic data points to continued tapering in 2014

Thu, 02 Jan 2014

By Tina Morrison Jan. 3 (BusinessDesk) – The New Zealand dollar weakened after positive US economic data reinforced expectations a reviving US economy will prompt the Federal Reserve to continue to pull back its monetary stimulus this year. The kiwi slipped to 81.99 US cents at 8am in Wellington, from 82.28 cents at 5pm yesterday. The Fed announced last month that it would start pulling back its US$85 billion of monthly bond purchases this month as it gains confidence about a revival in the world’s largest economy. Supporting that view, rep...

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