NZ dollar tumbles below 78 US cents as world digests end to Fed QE, China weakness

Thu, 20 Jun 2013

By Jonathan Underhill June 21 (BusinessDesk) – The New Zealand dollar fell to a 12-month low as the Federal Reserve’s signal of an end to quantitative easing, weak Chinese manufacturing and tighter credit sapped risk appetite and sent investors rushing to the greenback. The kiwi fell to 77.48 US cents, and earlier dropped to a 12-month low of 77.10 cents, from 78.54 cents yesterday. The trade-weighted index fell to 72.95 from 73.74. The US Dollar Index rose to as high as 82.15, a two-week high, as equity markets across the globe tumbled and...

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