NZ dollar weakens as looming US budget standoff saps risk appetite

Mon, 30 Sep 2013

Sept. 30 (BusinessDesk) – The New Zealand dollar fell on concern a looming US budget standoff poses a risk to US growth and global risk appetite. The kiwi pared its decline after a survey showed local business confidence at a five-year high. The kiwi traded at 82.85 US cents at 5 pm in Wellington, little changed from the start of the day and down from 83.19 cents in late local trading on Friday. The trade-weighted index fell to 77.17 from 77.30 on Friday. US Democrats and Republicans need to agree on spending cuts overnight to avoid a partia...

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