NZ dollar above 66 US cents as US September rate hike hopes fade

Wed, 19 Aug 2015

By Tina Morrison Aug. 20 (BusinessDesk) - The New Zealand dollar jumped higher after the minutes of the Federal Reserve's last meeting pushed out expectations for a US interest rate hike, damping demand for the greenback. The kiwi rose to 66.08 US cents at 8am in Wellington, from 65.79 cents at 5pm yesterday. The trade-weighted index increased to 71.06 from 70.95 yesterday. The US dollar index, which measures the greenback against a basket of currencies, dropped after the release of the minutes, which cited concerns about weak wage inf...

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