NZ dollar weakens as US retail sales report seen supporting tapering in September

Tue, 13 Aug 2013

By Tina Morrison Aug. 14 (BusinessDesk) – The New Zealand dollar weakened as investors bet retail sales growth in the US suggests a revival in the world’s largest economy which will prompt the Federal Reserve to start tapering its monetary stimulus next month. The kiwi slipped to 79.64 US cents at 8am in Wellington, from 79.97 cents at the 5pm market close yesterday. The trade-weighted index dipped to 75.15 from 75.21 yesterday. The US dollar index, which measures the greenback against a basket of other currencies, jumped after a report show...

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