NZ dollar rises as markets bet on US interest rate cut

Mon, 21 Oct 2019

The New Zealand dollar was stronger against the US dollar as markets bet on the US Federal Reserve cutting interest rates at the end of the month. It was also rose against the Australian dollar because dairy prices are headed north and iron ore prices headed south. The kiwi was trading at 64.00 US cents at 5pm in Wellington from 63.78 cents at 7:55am and at 93.20 Australian cents from 93.11 cents. The trade-weighted index was at 70.69 points from 70.52. Iron ore prices are falling because of a developing surplus while dairy prices have...

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