NZ dollar firms as Fed leaves door open to rate cuts

Wed, 19 Jun 2019

By Rebecca Howard June 20 (BusinessDesk) - The New Zealand dollar got a lift when the US Federal Reserve signaled rate cuts ahead if the economic outlook weakens. The kiwi was trading at 65.39 US cents at 8am in Wellington from 65.26 at 5 pm. The trade-weighted index was at 71.88 from 71.91. The Federal Reserve held the federal funds rate unchanged between 2.25 percent and 2.50 percent as expected but acknowledged that "uncertainties to the outlook have increased." It also removed the reference to remaining "patient" and now said it...

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