Kiwi dollar heading for fall

The New Zealand dollar was headed for a 0.6 per cent weekly decline after business confidence fell and Finance Minister Grant Robertson said economic growth may slow next year. The Kiwi dollar traded at US68.30c as at 5pm yesterday from US68.46c late on Thursday and from US68.64c a week ago. The trade- weighted index fell to 72.12 from 72.25. The kiwi fell to 50.47p from 50.82p late on Thursday. It fell to € 57.35c from € 57.69c, declined to 4.5181 yuan from 4.5215 yuan and rose to ¥ 76.88 from ¥ 76.65. It traded at A90.31c from A90.21c. New Zealand’s twoyear swap rate fell 1 basis point to 2.12 per cent, while the 10- year swap rate was unchanged at 3.07 per cent.