NZ dollar drops as US bond yields rise on stronger than expected data

Wed, 03 Oct 2018

By Paul McBeth Oct. 4 (BusinessDesk) - The New Zealand dollar fell as better than expected US data drove yields on US bonds to a seven-year high, making the greenback a more attractive investment option. The kiwi dropped to 65.31 US cents as at 8am in Wellington from 65.73 cents yesterday. The trade-weighted index declined to 71.37 from 71.62. The yield on 10-year US Treasuries climbed 10 basis points to 3.15 percent after the ISM non-manufacturing survey beat expectations in hitting a 21-year high. A strong ADP private payrolls repo...

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