NZ dollar drops as rising US bond yields help lift greenback

Thu, 27 Oct 2016

By Jonathan Underhill Oct. 28 (BusinessDesk) - The New Zealand dollar fell as rising US Treasury bond yields help drive up the greenback. The kiwi fell to 71.20 US cents as at 8am in Wellington from 71.51 cents late yesterday. The trade-weighted index dropped to 76.92 from 77.07. The yield on 10-year US Treasuries rose as high as 1.87 percent overnight, the highest since late May, after stronger-than-expected UK economic figures sparked a selloff in global bond markets. The US Dollar Index climbed as much as 0.3 percent. In New Zealand...

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