NZ dollar weakens as investors look to US economic revival

Sun, 23 Jun 2013

By Tina Morrison June 24 (BusinessDesk) – The New Zealand dollar dropped as investors continue to favour the US on signs of a revival in the world’s largest economy. The kiwi fell to 77.29 US cents from 77.71 cents at 5pm in Wellington Friday and 77.52 cents at the New York close Friday, when it dipped below 77 cents for the first time in a year. The Federal Reserve last week said it may wind back its US$85 billion a month of bond buying this year and end the stimulus programme in 2014. The Federal Open Market Committee said that risks to t...

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