The New Zealand dollar weakened after positive US economic data reinforced expectations a reviving US economy will prompt the Federal Reserve to continue to pull back its monetary stimulus this year. The kiwi slipped to 81.99 US cents at 8am in Wellington, from 82.28 cents at 5pm yesterday. The Fed announced last month that it would start pulling back its …

Wall Street fell in the first trading session of 2014, even as US manufacturing and jobless claims provided further evidence of an accelerating recovery in the world’s largest economy. The US Institute for Supply Management’s manufacturing index edged lower in December, down to 57 from 57.3 in November, its highest level in more than two years. Separately, initial claims for …

The New Zealand dollar was little changed in patchy trading leading in to the New Year holiday period and is likely to weaken next year as the Federal Reserve pulls back on its bond buying programme which has dented the greenback. The local currency edged up to 82.14 US cents at 4:30pm in Wellington, from 82.06 cents at 8am this …