NZ dollar falls after Fed talks up US economy, says inflation may be transient

Wed, 01 May 2019

By Rebecca Howard May 2 (BusinessDesk) - The New Zealand dollar fell after upbeat comments from Federal Reserve Chairman Jerome Powell pushed the prospect of a US rate cut off the table. The kiwi was at 66.19 at 8am in Wellington versus 66.50 at 5pm yesterday. The trade-weighted index was at 72.24 versus 72.46 The Fed left rates unchanged overnight, but the greenback got a lift during Powell's press conference when he sounded more upbeat on the US economy. He noted the strength of the labour market and said activity rose at a solid pac...

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