NZ dollar extends gains as Fed rate hike bets fade, traders debate timing of RBNZ cut

Fri, 29 Apr 2016

By Jonathan Underhill April 29 (BusinessDesk) - The New Zealand dollar extended its gains back toward 70 US cents as weaker US economic growth gave the Federal Reserve less reason to rush to hike interest rates, weighing on the greenback. The kiwi rose to 69.73 US cents as at 5pm in Wellington, from 69.33 cents late yesterday. It was last above 70 cents on April 21. The trade-weighted index rose to 73.31 from 73.14 yesterday. The US dollar index, which measures the greenback against a basket of currencies, has fallen to its lowest leve...

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