NZ dollar falls as market weighs 'hawkish' Yellen comments, weaker business confidence

Tue, 26 Sep 2017

By Jonathan Underhill Sept. 27 (BusinessDesk) - The New Zealand dollar fell against the US dollar, touching a three-week low, after Federal Reserve chair Janet Yellen said the central bank needs to push on with gradual rate hikes despite weak inflation. The kiwi dropped to 72.04 US cents as at 8am in Wellington, and earlier touched 71.67 cents, from 72.45 cents late yesterday. The trade-weighted index fell to 75.75 from 75.91. In a speech to the US National Association of Business Economics, Yellen said there was a risk the labour mark...

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