NZ dollar drops more than half a US cent on upbeat Fed report, Apple's US$38B tax bill

Wed, 17 Jan 2018

By Rebecca Howard Jan. 18 (BusinessDesk) - The New Zealand dollar dropped more than half a US cent after upbeat comments from the US Federal Reserve and news Apple Inc's tax bill and investment plans will see more funds flow into the US may have galvanised investors to crystallise recent strength in the kiwi. The kiwi fell to 72.58 as at 12pm in Wellington from 73.25 cents at 8am while the trade-weighted index dropped to 74.83 from 75.25. The greenback rallied across the board, with the Dollar Index up 0.6 percent, in the early New Ze...

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