NZ dollar weakens on expectations improving US economy may spur end to stimulus

Tue, 02 Jul 2013

By Tina Morrison July 3 (BusinessDesk) – The New Zealand dollar weakened as signs of an improvement in the US economy buoyed speculation the Federal Reserve will start tapering its asset purchases. The kiwi dropped to 77.45 US cents from 77.73 cents at the 5pm market close in Wellington yesterday. The local currency earlier this morning fell to 77.31 cents, the lowest level since Monday. The trade-weighted index gained to 73.82 from 73.79 yesterday. The US dollar index, which measures the greenback against the currencies of six trading partn...

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