NZ dollar benefits from dovish Fed, domestic growth

Thu, 20 Jun 2019

By Rebecca Howard June 20 (BusinessDesk) - The New Zealand dollar gained after the US Federal Reserve left the door open for rate cuts and data showed the domestic economy grew 0.6 percent in the first quarter. The kiwi was trading at 65.65 US cents at 5pm in Wellington from 65.39 at 8am and 64.93 late yesterday. The trade-weighted index was at 72.03 from 71.88 at 8am. The kiwi got an early morning lift when the US Federal Reserve held rates but indicated that it is ready to cut in the future if necessary. It strengthened further when...

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