NZ dollar weakens; safe haven currencies favoured as US agreement remains elusive

Sun, 13 Oct 2013

By Tina Morrison Oct. 14 (BusinessDesk) – The New Zealand dollar fell as investors favoured so-called safe-haven currencies on concern that US politicians have yet to reach agreement on the budget as the deadline looms this week for raising the nation’s debt limit or risk default. The kiwi slipped to 82.83 US cents at 8am in Wellington, from 83.16 cents at the New York close Friday and 83.02 cents at the 5pm close in Wellington on Friday. The trade-weighted index dropped to 77 from 77.13 in Wellington on Friday. US government officials faile...

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