NZ dollar weakens on greenback demand before RBNZ interest rate decision

Wed, 24 Jul 2013

By Tina Morrison July 25 (BusinessDesk) – The New Zealand dollar weakened amid broad demand for the greenback after better than expected economic reports bolstered optimism about a recovery in the world’s largest economy. The kiwi dropped to a three-day low of 79.01 US cents early this morning and recently traded at 79.28 cents, down from 79.66 cents at the 5pm market close in Wellington yesterday. The trade-weighted index weakened to 75.13 from 75.18 yesterday. The US Dollar Index, which measures the greenback against a basket of currencies...

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