NZ dollar ‘very much out of favour’ as investors sell higher risk assets

Tue, 24 Sep 2013

By Tina Morrison Sept 25 (BusinessDesk) – The New Zealand dollar weakened as investors sold off higher risk assets as they mull yet again the prospect of the US Federal Reserve pulling back its US$85 billion a month bond buying programme. The kiwi fell to 82.70 US cents at 8am in Wellington from 83.35 cents at the 5pm market close yesterday. The trade-weighted index slid to 77.10 from 77.63. The New Zealand dollar was the biggest decliner overnight as investors continue to consider the outlook for tapering after the Fed last week unexpectedl...

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