NZ dollar weakest performer as English comments add to downward momentum

Tue, 18 Feb 2014

By Tina Morrison Feb. 19 (BusinessDesk) – The New Zealand dollar was the weakest performer of major currencies overnight, after comments by Finance Minister Bill English that the kiwi may be 20 percent overvalued added to its downward momentum. The kiwi fell to 83.02 US cents at 8am in Wellington, from 83.46 cents at 5pm yesterday, and was the weakest performing currency overnight according to Reuters calculations. The trade-weighted index weakened to 77.83 from 78.26 yesterday. The New Zealand dollar declined after the Reserve Bank of Aust...

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