NZ dollar drops from 3-week high as rising US wages stoke optimism

Sun, 08 Jan 2017

By Paul McBeth Jan. 9 (BusinessDesk) - The New Zealand dollar fell from a three-week high as demand for the greenback rallied after figures showed US wages rose at their fastest pace in seven years, heightening expectations for the Federal Reserve to hike interest rates. The kiwi traded at 69.60 US cents as at 8am in Wellington from 69.58 cents on Friday in New York, down from 70.14 cents at the close of New Zealand trading last week. The trade-weighted index declined to 77.34 from 77.61. US non-farm payrolls showed the US added 156,...

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