NZ dollar weakens ahead of Federal Reserve comments on stimulus

Tue, 21 May 2013

By Tina Morrison May 22 (BusinessDesk) - The New Zealand dollar weakened against its US counterpart amid speculation growth in the world's largest economy may spur the Federal Reserve to reduce stimulus, known as quantitative easing. The kiwi fell to 81.56 US cents from 81.82 cents at 5pm yesterday. The trade-weighted index was little changed at 77.15 from 77.10 yesterday. Investors are looking to Federal Reserve Chairman Ben Bernanke's testimony in front of a House of Representatives committee on Wednesday in Washington where he is expected...

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