NZ dollar weakens as Fed keeps policy on hold; ECB is next hurdle

Wed, 01 Aug 2012

By Jonathan Underhill Aug. 2 (BusinessDesk) - The New Zealand dollar fell after the Federal Reserve kept US monetary policy unchanged even while noting the world’s biggest economy may need help. The greenback was broadly stronger after the statement. The kiwi dollar fell to 80.87 US cents from 81.04 cents at 5pm in Wellington yesterday. The trade-weighted index was little changed at 72.97. The Fed said US economic activity had "decelerated somewhat" since its policymakers last met but failed to provide fresh clues on potential action to revi...

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