NZ dollar gains as Fed dovishness drags the greenback down

Fri, 21 Jun 2019

By Jenny Ruth June 21 (BusinessDesk) - The New Zealand dollar is heading for a gain of more than 1 US cent for the week as the greenback continued to slide after the Federal Reserve turned dovish earlier this week. The kiwi was trading at 65.96 US cents at 5:05pm in Wellington from 65.89 at 7:45am and 64.89 in New York last Friday. The trade-weighted index was at 72.14 points from 72.05. “There’s a race to the bottom on interest rates across the globe and the US has just jumped on that bandwagon,” says Peter Hunt, foreign exchange and...

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