NZ dollar treads water as markets mull greenback strength

Wed, 08 Oct 2014

By Paul McBeth Oct. 8 (BusinessDesk) - The New Zealand dollar is in a period of consolidation as markets muse over the rapid gains in the greenback over the past three months. The kiwi traded at 77.89 US cents at 5pm in Wellington from 78.31 cents at 8am and 77.96 cents yesterday. The trade-weighted index slipped to 75.95 from 76.17 yesterday. Support for the greenback has been waxing and waning in recent sessions while traders second-guess the Fed's intentions as the US economy gathers steam. The US dollar index, a measure against a b...

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