NZ dollar hits a two-year low after US Fed announcement

It was last this low in October 2022. (Image: Getty)

Thu, 19 Dec 2024

The New Zealand dollar hit a two-year low against the greenback after the US Federal Reserve’s rate cut and announcement.The kiwi traded at 56.69 US cents Thursday morning in Wellington, the lowest since October 2022. The Fed cut the Federal Funds rate by 25bps to 4.25% to 4.5% as expected but signalled it will now slow the pace. The US dollar index (DXY) is stronger across the board, and US Treasury yields are higher with emerging markets “getting slaughtered”, Commonwealth Bank of Australia's Tim Kelleher said....

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