NZ dollar weakens as Beige Book stokes doubts about QE3

Wed, 29 Aug 2012

By Jonathan Underhill Aug. 30 (BusinessDesk) – The New Zealand dollar fell, approaching 80 US cents for the first time since late July, after the Federal Reserve’s Beige Book said the US economy is expanding “gradually” and second-quarter economic growth figures were revised up. The kiwi dollar fell to 80.01US cents from 80.42 cents at 5pm in Wellington yesterday. The trade-weighted index fell to 71.99 from 72.26. US gross domestic product for the second quarter was revised up to a 1.7 percent annual pace from an initial estimate of 1.5 perc...

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