NZ dollar extends decline as rising US bond yields boost greenback

Thu, 04 Oct 2018

By Paul McBeth Oct. 5 (BusinessDesk) - The New Zealand dollar extended its decline for a fourth day as US bond yields continued to rise on expectations a strong US economy will drive up interest rates. The kiwi fell as low as 64.75 US cents, the lowest since February 2016, and traded at 64.78 cents at 8am in Wellington from 64.97 cents yesterday. The trade-weighted index dropped to 70.92 from 71.11. The yield on US 10-year Treasuries rose 3 basis points to 3.19 percent as stronger than expected US data this week heightened expectatio...

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