NZ dollar extends decline as prospect of rising US rates supports greenback

Mon, 10 Sep 2018

By Paul McBeth Sept. 10 (BusinessDesk) - The New Zealand dollar dropped to a new two-and-a-half year low as rising US wages firmed up expectations for the Federal Reserve to hike interest rates twice more this year. The kiwi fell as low as 65.13 US cents and was trading at 65.17 cents at 5pm in Wellington from 65.33 cents on Friday in New York. The trade-weighted index was at 71.10 from 71.23 last week. The greenback followed US Treasury yields higher as interest rate market pricing showed investors see a US rate hike as a certainty...

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