NZ dollar weakens as US GDP disappoints, Italy ends political stalemate

Sun, 28 Apr 2013

April 29 (BusinessDesk) – The New Zealand dollar weakened after US first-quarter economic growth came in weaker than expected and Italy ended a two-month political stalemate with the creation of a new coalition government. The kiwi traded at 84.95 US cents from 84.75 cents in New York on Friday and down from 85.30 cents in Wellington at 5pm on Friday. The trade-weighted index was at 78.33 from 78.24. US gross domestic product grew in the first three months of this year at a 2.5 percent annualised rate, less than the 3 percent to 3.1 percent...

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