NZ dollar extends decline as greenback benefits from Powell's testimony

Wed, 18 Jul 2018

By Rebecca Howard July 18 (BusinessDesk) - The New Zealand dollar fell in Asia after upbeat comments overnight from Federal Reserve chair Jerome Powell reinforced the view US rates will keep rising while domestic rates stay at a record low. The kiwi traded at 67.70 US cents as at 5pm in Wellington from 67.82 cents at 8am and 68.30 cents yesterday. The trade-weighted index was at 72.76 from 73.07. The New Zealand dollar jumped to a week-high yesterday after an inflation gauge published by the Reserve Bank accelerated at its fastest pac...

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