NZ dollar strengthens on concern weak US housing market may delay Fed tapering

Sun, 25 Aug 2013

By Tina Morrison Aug. 26 (BusinessDesk) – The New Zealand dollar advanced after weaker than expected US housing sales data raised concerns the Federal Reserve may not start tapering its monetary stimulus next month. The kiwi rose to 78.11 US cents at 8am in Wellington from 77.99 cents at the New York close and 78.30 cents on Friday. The trade-weighted index slipped to 73.62 from 73.99 on Friday. The US dollar index, which measures the greenback against a basket of currencies, fell sharply after a report showed new home sales in the US droppe...

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