NZ dollar advances as Federal Reserve’s Yellen seen continuing asset purchases

Mon, 31 Mar 2014

By Tina Morrison April 1 (BusinessDesk) – The New Zealand dollar advanced as investors bet the US Federal Reserve will continue to pull back on its quantitative easing programme even as chair Janet Yellen signalled the world’s largest economy will need support for some time. The kiwi rose to 86.73 US cents at 8am in Wellington, from 86.55 cents at 5pm yesterday. The trade-weighted index edged up to 80.91 from 80.86 yesterday. Yellen signalled considerable slack is still present in the US economy and the labour market, with most Fed official...

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