NZ dollar climbs above 73 US cents as Wheeler sticks to his guns, Yellen looms

Tue, 23 Aug 2016

By Jonathan Underhill Aug. 23 (BusinessDesk) - The New Zealand dollar rose above 73 US cents after Reserve Bank governor Graeme Wheeler signalled no change in the stance of monetary policy, disappointing some in the market that had expected a more dovish tone to today's speech. The kiwi rose to 73.16 US cents as at 5pm in Wellington and touched 73.25 cents immediately after the speech was released at 9am NZ time, from 72.16 cents late yesterday. The trade-weighted index rose to 77.38 from 76.64. In a speech to the Otago Chamber of Com...

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