Tuesday, August 12, 2008

Kiwi dollar's decline inexorable

As in the case of the housing market, one wonders how far the kiwi dollar will eventually fall. At 1.30pm today, it was at US69.63c, after touching a low of US69.52c.

As interest rates here are still high, the fall can only reflect a lack of international confidence in the future of the New Zealand economy.

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