NZ dollar drops to six-month low as greenback soars on Fed expectations

Tue, 09 Sep 2014

By Paul McBeth Sept. 9 (BusinessDesk) - The New Zealand dollar fell to the lowest in more than six months after the greenback soared on expectations the Federal Reserve will start hiking interest rates earlier and faster than previously anticipated. The kiwi fell to 82.54 US cents at 5pm in Wellington from 82.77 cents at 8am and 83.16 cents yesterday. The trade-weighted index declined to 78.91 from 79.02 yesterday. The Dollar Index, a measure of the greenback against a basket of currencies, rose as high as 84.50, the highest since July...

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