NZ dollar weakens as greenback buoyed by economic optimism

Sun, 25 May 2014

By Tina Morrison May. 26 (BusinessDesk) - The New Zealand dollar fell as positive US economic data strengthened the greenback and some investors reduced their holdings of the local currency on concern about falling commodity prices. The kiwi slipped to 85.36 US cents at 8am in Wellington, from 85.39 cents at the New York close and 85.61 cents at 5pm in Wellington on Friday. The trade-weighted index dropped to 79.75 from 79.92 on Friday. The US dollar index, which measures the greenback against a basket of currencies, strengthened after...

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