The New Zealand dollar was little changed ahead of the Reserve Bank’s statement as traders ponder its assessment of the impact of drought, a high kiwi dollar and a hot Auckland property market on the outlook for the economy. The local currency traded at 82.53 US cents from 82.50 cents at 5pm in Wellington yesterday. The trade-weighted index rose to …

A report showing US retail sales in February far exceeded forecasts supported Wall Street, underpinning expectations the American economic recovery is here to stay with help from the Federal Reserve. Retail sales jumped 1.1 percent last month, following a revised 0.2 percent rise in January. It was the biggest climb since September and far better than the 0.5 percent increase …

The New Zealand dollar fell below 80 Australian cents for the first time since January as the drought across much of the North Island weighs on investors’ confidence in the local recovery, and as the Reserve Bank prepares to review monetary policy tomorrow. The kiwi fell as low as 79.79 Australian cents, and traded at 79.91 cents at 5pm from …