NZ dollar touches fresh three-month low of 84 US cents

Wed, 04 Jun 2014

By Tina Morrison June 5 (BusinessDesk) - The New Zealand dollar touched a fresh three-month low of 84 US cents overnight as investors unwind bets for the currency's acceleration, and the downward trend is expected to continue. The kiwi was little changed at 84.15 US cents at 8am in Wellington from 84.13 cents at 5pm yesterday. The trade-weighted index was also little changed at 78.71 from 78.67 yesterday. The New Zealand dollar has dropped 2.8 percent the past month as investors pull back their expectations for its continued appreciati...

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