NZ dollar benefits from dovish Federal Reserve

Wed, 20 Mar 2019

By Rebecca Howard March 21 (BusinessDesk) - The New Zealand dollar rose after the US Federal Reserve signalled only one further rate hike in 2020. The kiwi was trading at 69.11 US cents at 8am in Wellington versus 68.33 US cents at 5pm in Wellington. The trade-weighted index was at 74.57 from 74.07. The Fed held interest rates steady at 2.25- 2.50 percent. Its "dot plot," which charts estimates for where voting committee members think the benchmark rate should be over the next three years, now points to only one rate hike in 2020. It...

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