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

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