(Bloomberg) -- The New Zealand dollar fell against
the dollar for a third day as a drop in business confidence
damped speculation the central bank will raise its benchmark
interest rate from a record 8 percent this month.
Three increases in the official cash rate this year have
attracted investors seeking higher yields, helping the currency
gain 27 percent the past 12 months. Companies are less
optimistic on third-quarter sales and profit, a private survey
released today showed.
Read more at Bloomberg Currencies News
the dollar for a third day as a drop in business confidence
damped speculation the central bank will raise its benchmark
interest rate from a record 8 percent this month.
Three increases in the official cash rate this year have
attracted investors seeking higher yields, helping the currency
gain 27 percent the past 12 months. Companies are less
optimistic on third-quarter sales and profit, a private survey
released today showed.
Read more at Bloomberg Currencies News
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