NZ dollar drops after Fed keeps December rate hike alive; RBNZ looms

Wed, 28 Oct 2015

By Tina Morrison Oct. 29 (BusinessDesk) - The New Zealand dollar dropped after the US Federal Reserve signalled it could hike interest rates at its December meeting and traders await the Reserve Bank of New Zealand's rate decision this morning. The kiwi fell as low as 66.39 US cents after the Fed's 7am statement, and was trading at 66.42 cents at 8am in Wellington, from 67.25 cents late yesterday. The trade-weighted index declined to 72.10 from 72.73 yesterday. The US dollar index, which measures the greenback against a basket of curre...

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