NZ dollar weaker after Fed split on outlook for further US cuts

Wed, 18 Sep 2019

By Rebecca Howard Sept. 19 (BusinessDesk) - The New Zealand dollar weakened after the US Federal Reserve cut rates but were split over the outlook for further cuts. The kiwi was trading at 63.22 US cent at 7:50 am from 63.36 US cents at 5pm yesterday. The trade-weighted index was at 70.21 points from 70.34. The Federal Reserve cut rates by 25 basis points to 1.75-2 percent as widely expected. But the decision wasn’t unanimous with seven committee members voting in favour, two voting to keep rates unchanged and one calling for a 50 basi...

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