New Zealand dollar falls on US rate hike speculation

New Zealand dollar falls on US rate hike speculation
By Suze Metherell July 7 (BusinessDesk) - The New Zealand dollar fell after last week's strong US employment data stoked market speculation the Federal Reserve will move to hike interest rates sooner than expected. The kiwi was 87.18 US cents at 5pm in Wellington, from 87.38 cents at New York close and 87.49 cents at 5pm on Friday. The trade-weighted index fell to 81.21, a five-day low, from 81.30 at the New York close. The US dollar strengthened after US Labor Department figures on Thursday showed 288,000 jobs were added in June, exce...