NZ dollar falls as Fed minutes point to June rate hike, driving up greenback

Thu, 19 May 2016

By Jonathan Underhill May 19 (BusinessDesk) - The New Zealand dollar fell as the US dollar surged in response to the publication of minutes of the last Federal Open Market Committee which hinted at an interest rate increase as soon as next month, driving up demand for the greenback. The kiwi fell to 67.30 US cents at 5pm in Wellington from 67.90 cents late yesterday. The trade-weighted index fell to 72.55 from 72.79. The Fed minutes explicitly mention the chance of a rate hike in June, although with the usual proviso that it would depe...

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