NZ dollar gains as dovish Fed comments point to 50-bps US cut

Thu, 18 Jul 2019

By Rebecca Howard July 19 (BusinessDesk) - The New Zealand dollar rose after dovish comments from New York Federal Reserve President John Williams increased expectations for a steeper rate cut in the US at the end of the month. The New Zealand dollar was trading at 67.82 at 7:50am in Wellington from 67.39 US cents at 5pm. The trade-weighted index was at 73.93 from 73.64. Williams told the annual meeting of the Central Bank Research Association that central banks should “take swift action when faced with adverse economic conditions,”...

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