NZ dollar drops as Fed statement leaves June rate hike in prospect

Wed, 03 May 2017

By Jonathan Underhill May 4 (BusinessDesk) - The New Zealand dollar declined as the Federal Reserve gave an assessment of US economic growth that was in line with expectations, keeping open the prospect of another hike to US interest rates in June. The kiwi fell to 68.76 US cents as at 8am in Wellington from 69.48 cents late yesterday. The trade-weighted index dropped to 74.88 from 75.37. The Federal Open Market Committee downplayed signs of weakness in the US economy this year, saying it "views the slowing in growth during the first q...

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