NZ dollar dips as better than expected US data keeps investors upbeat on Fed rate hike

Wed, 05 Oct 2016

By Paul McBeth Oct. 6 (BusinessDesk) - The New Zealand dollar dipped as another upbeat US economic report kept investors optimistic the Federal Reserve will raise interest rates before the end of the year, stoking demand for the greenback. The kiwi declined to 71.69 US cents at 8am in Wellington from 71.87 cents yesterday. The trade-weighted index edged down to 76.42 from 76.53. The US ISM non-manufacturing index delivered a reading of 57.1 in September, beating the 53 level economists were predicting and giving investors heart the F...

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