NZ dollar falls as Fed's Dudley points to 2015 rate hike, stocks fall, risk aversion rises

Mon, 28 Sep 2015

By Jonathan Underhill Sept. 29 (BusinessDesk) - The New Zealand dollar fell after New York Federal Reserve president William Dudley said he expects US interest rates to be raised this year, although on a low trajectory, while a drop in global stock markets sapped risk appetite and demand for growth-linked currencies such as the kiwi. The local dollar fell to 63.32 US cents as at 8:30am in Wellington, from 63.99 cents late yesterday. The trade-weighted index fell to 69.18 from 69.79. Equity markets in Europe and the US fell, and commodi...

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