NZ dollar falls as Fed chair Powell's upbeat economic outlook prompts US rate rethink

Wed, 28 Feb 2018

By Paul McBeth Feb. 28 (BusinessDesk) - The New Zealand dollar fell after Federal Reserve chair Jerome Powell's optimistic assessment of the US economy gave investors reason to second-guess their interest rate outlooks, pushing yields on US Treasuries higher and stoking demand for the greenback. The kiwi dropped to 72.24 US cents as at 5pm in Wellington from 72.43 cents at 8am and 72.76 cents yesterday. The trade-weighted index declined to 74.40 from 74.61 yesterday. The dollar index, a measure of the greenback against a basket of cu...

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