NZ dollar falls as Fed statement keeps market focused on June rate hike

Thu, 04 May 2017

By Jonathan Underhill May 4 (BusinessDesk) - The New Zealand dollar fell after the latest Federal Reserve statement kept intact speculation that the US central bank will continue with the two rate hikes it has flagged for 2017, starting with one in June. The kiwi fell to 68.82 US cents as at 5pm in Wellington from 69.48 cents late yesterday. The trade-weighted index dropped to 74.95 from 75.37. The Federal Open Market Committee downplayed signs of weakness in the US economy this year, saying it "views the slowing in growth during the f...

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