NZ dollar falls after Fed kicks off tightening cycle with quarter-point hike

Thu, 17 Dec 2015

By Paul McBeth Dec. 17 (BusinessDesk) - The New Zealand dollar fell after the Federal Reserve began its well-signalled plan to start raising interest rates gradually over the coming years, ending the near-zero rate policy that's been in place since December 2008. The kiwi dropped to 67.23 US cents at 5pm in Wellington from 67.79 cents immediately before the Fed release and 67.65 cents yesterday. The trade-weighted index fell to 73.40 from 73.55 yesterday. The Federal Open Market Committee raised the federal funds rate a quarter point...

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