Tuesday, July 31, 2007

Giant US hedge funds are dumping the New Zealand dollar in the foreign exchange market on expectations that its recent plunge has further to run.

US hedge funds dump kiwi dollar

Since US sub-prime mortgage and credit market woes spilled over into the forex market last week, the kiwi has lost just over 6 per cent of its value against the greenback as carry trade positions are unwound.

Posted by chris :-)) @ 10:30 AM (35 views)
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