NZ dollar weakens as stronger US data signals Federal Reserve may start tapering in September

Thu, 29 Aug 2013

By Tina Morrison Aug. 30 (BusinessDesk) – The New Zealand dollar weakened as stronger data out of the US reassured investors that the Federal Reserve will probably start winding back its stimulus programme next month. The kiwi fell to 77.73 US cents at 8am in Wellington from 78.32 cents at the 5pm market close yesterday. The trade-weighted index slipped to 73.71 from 74.01 yesterday. The US dollar index, which measures the greenback against a basket of currencies, gained after data showed the US economy accelerated in the second quarter and...

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