NZ dollar falls as investors take stock in shortened week after Fed scare

Mon, 21 Mar 2016

By Paul McBeth March 21 (BusinessDesk) - The New Zealand dollar fell as investors revisited their pessimism about the greenback after the Federal Reserve scaled back its projected rate hikes for this year in an abbreviated trading week. The kiwi dropped to 67.63 US cents at 5pm in Wellington from 67.96 cents at 8am and 67.94 cents on Friday in New York. The trade-weighted index fell to 71.76 from 72.38 last week. The US dollar rallied on Friday after traders grew more comfortable with the Fed's lower track for the federal funds rate,...

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