NZ dollar slumps on speculation US central bank may end easing bias this year

Thu, 16 May 2013

By Tina Morrison May 17 (BusinessDesk) - The New Zealand dollar slumped to its lowest this year on expectations an improving US economy may prompt its central bank to end its quantitative easing policy this year. The kiwi fell to 81.58 US cents from 82.48 cents at 5pm yesterday. The local currency earlier touched 81.37 cents, its lowest level since Nov. 21 when it traded at 81.08 cents. The trade-weighted index dropped to 77.05 from 77.60 yesterday. The US currency has been buoyed by suggestions the Federal Reserve may end its policy of buyi...

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