NZ dollar weakens as investors favour greenback on US economic recovery

Sun, 04 Jan 2015

By Tina Morrison Jan. 5 (BusinessDesk) - The New Zealand dollar fell as investors bet a strengthening US economy will prompt the Federal Reserve to push up interest rates in the world's largest economy this year. The kiwi slipped to 76.84 US cents at 8am in Wellington, from 77.02 cents at the New York close and 77.54 cents in New Zealand on Friday. New Zealand markets were closed on Jan. 1 and 2 last week for New Years public holidays. The trade-weighted index was at 78.44. The US dollar index, which measures the greenback against a ba...

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