NZ Dollar Trim Gains as US Politicians Still Cannot Find Consensus
The New Zealand dollar erased its earlier gains today on concerns that talks among US politicians to avoid the fiscal cliff were unsuccessful so far. The currency went higher against the Japanese yen.
Fears that the so-called fiscal cliff will push the United States into recession still dominate the Forex market. Treasury Secretary Timothy Geithner said that he will take “extraordinary measures” to postpone a US default into early 2013, while President Barack Obama and the Congress are preparing to make a final attempt to make a deal for avoiding a crisis. Losses of the New Zealand currency were limited amid speculations that China’s manufacturing continues to grow with faster pace.
NZD/USD was at about 0.8191 as of 14:27 GMT today, following the earlier advance from 0.8195 to 0.8224. NZD/JPY went up from 70.08 to 70.39.
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Earlier News About the New Zealand Dollar:
- Slowing New Zealand's Growth Does Not Make Kiwi Soft (2012-12-20)
- NZ Dollar Supported by Risk Appetite Despite Poor Data (2012-12-13)
- NZ Dollar Rallies to Highest Since May 2010 vs. Yen (2012-12-11)
- NZ Dollar Finds Strength in Manufacturing Sales, Ignores Negative Factors (2012-12-10)
- NZD/JPY Rises to Highest Since March as RBNZ Keeps OCR Stable (2012-12-06)