NZ dollar rises after Fed hints at pause

Thu, 31 Oct 2019

The New Zealand dollar is benefiting from improving risk appetite after the US Federal Reserve cut interest rates as expected and hinted at a pause in further moves. The kiwi was trading at 63.70 US cents at 8:10 am in Wellington from 63.51 cents at 5:05 pm. The trade-weighted index was at 70.27 versus 70.18. “We believe that monetary policy is in a good place,” Federal Reserve chair Jerome Powell said after the Fed lowered the target range for the federal funds rate by a quarter of a basis point to 1.5-1.75 percent. According to Dow Jone...

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