NZ dollar rides higher on Powell’s dovish testimony

Thu, 11 Jul 2019

By Rebecca Howard July 11 (BusinessDesk) - The New Zealand dollar continued to tick higher after dovish comments by US Federal Reserve chair Jerome Powell increased the prospects of deeper rate cuts there at the end of the month. The kiwi was trading at 66.67 US cents at 5pm in Wellington from 66.41 cents at 8am. The trade-weighted index was at 72.85 from 72.71. Powell emphasized trade tensions and concerns over the strength of the global economy in his half-yearly testimony before the US House Financial Services Committee. He also sai...

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