NZ dollar declines ahead of Fed meeting; dairy prices dip, current account beats expectations

Wed, 17 Jun 2015

By Paul McBeth June 17 (BusinessDesk) - The New Zealand dollar edged lower ahead of the US Federal Reserve's policy meeting, which investors expect will outline the central bank's plan to start raising interest rates as the US economy gathers momentum. The kiwi slipped to 69.66 US cents at 5pm in Wellington from 69.84 cents at 8.30am and 69.88 cents yesterday. The trade-weighted index declined to 72.73 from 72.89. The Federal Open Market Committee will review the Fed's zero-to-0.25 percent target band for the federal funds rate on Wedn...

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