NZ dollar falls after better US data stokes bets on Fed interest rate hikes

Sun, 28 Feb 2016

By Tina Morrison Feb. 29 (BusinessDesk) - The New Zealand dollar declined after upbeat economic data in the US revived expectations the Federal Reserve will continue to hike interest rates. The kiwi was at 66.39 US cents at 8am in Wellington, from 66.25 cents at the New York close, and down from 67.64 cents on Friday. The trade-weighted index dropped to 72.57 from 73.46 on Friday. The dollar index, which measures the greenback against a basket of currencies, jumped to its highest in more than three weeks after US economic growth held u...

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