NZ dollar weakens after positive US data

Wed, 27 Nov 2013

By Tina Morrison Nov 28 (BusinessDesk) – The New Zealand dollar weakened as investors bet positive US data increases the chances the Federal Reserve will taper its monetary stimulus soon, bolstering the greenback. The kiwi slipped to 81.24 US cents at 8am in Wellington, from 81.92 cents at the 5pm market close yesterday. The trade-weighted index fell to 76.50 from 76.94. A report out of the US showed jobless claims fell, providing optimism about a resilient labour market ahead of the key non-farm payrolls report next Friday, which is closely...

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