NZ dollar weakens after Fed ‘tapering’ announcement and strong local data

Thu, 19 Dec 2013

By Tina Morrison Dec. 20 (BusinessDesk) – The New Zealand dollar weakened following a volatile day after the Federal Reserve said it would start tapering its asset purchase programme while local data continued to point to a strengthening economy which will push up interest rates next year. The kiwi slipped to 81.73 US cents at 8am in Wellington, from 81.81 cents at 5pm yesterday and has traded in a 1 cent range over the past 24 hours. The trade-weighted index dropped to 77.38 from 77.50 yesterday. The Fed said it will begin a modest US$10 b...

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