NZ dollar falls as greenback surges on Fed minutes pointing to June rate hike

Wed, 18 May 2016

By Tina Morrison May 19 (BusinessDesk) - The New Zealand dollar fell as the US dollar surged after the Federal Reserve minutes to its last meeting stoked speculation for an interest rate hike next month. The kiwi sank to 67.31 US cents at 8am in Wellington, from 67.90 cents at 5pm yesterday. The trade-weighted index declined to 72.46 from 72.79. The US dollar index, which measures the greenback against a basket of currencies, jumped to its highest in five weeks after the release at 6am New Zealand time of the Fed minutes from its April...

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