NZ dollar weakens as fiscal cliff looms, long bets unwind

Wed, 26 Dec 2012

Dec. 27 (BusinessDesk) – The New Zealand dollar fell against most major currencies as the looming US fiscal cliff sapped risk appetite, stoking demand for the greenback, and investors continued to unwind long positions in the kiwi and Australian dollars. The New Zealand dollar fell to 81.76 US cents from 82.15 cents in Asian trading yesterday. The trade-weighted index fell to 73.33 from 73.68. President Barack Obama is set to return to Washington early Thursday as he attempts to forge an agreement between Democrats and Republicans to prevent...

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