NZ dollar weakens on speculation US interest rates may rise earlier than forecast

Mon, 09 Jun 2014

By Tina Morrison June 10 (BusinessDesk) - The New Zealand dollar weakened on the suggestion US interest rates may rise sooner than previously expected, boosting demand for the greenback. The kiwi slipped to 84.88 US cents at 8am from 85.13 cents at 5pm yesterday. The trade-weighted index dropped to 79.19 from 79.36 yesterday. The US dollar index, which measures the greenback against a basket of currencies, rose after St. Louis Federal Reserve Bank president James Bullard said if the US economy continues to improve at its current pace,...

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