NZ dollar falls as rising US bond yields drive up greenback

Fri, 28 Oct 2016

By Jonathan Underhill Oct. 28 (BusinessDesk) - The New Zealand dollar fell amid a global selloff in bonds, paced by US Treasuries, that pushed the yield on the 10-year benchmark US bond to a five-month high and drove up the greenback. The kiwi fell to 71.36 US cents as at 5pm in Wellington from 71.51 cents late yesterday. The trade-weighted index was little changed at 77.07. The yield on 10-year US Treasuries rose as high as 1.87 percent overnight, the highest since late May according to Reuters data, after stronger-than-expected UK ec...

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