NZ dollar falls as traders ponder whether Yellen will dent kiwi-yield story

Wed, 24 Aug 2016

By Jonathan Underhill Aug. 24 (BusinessDesk) - The New Zealand dollar fell as traders speculated Federal Reserve chair Janet Yellen may echo recent hawkish statements by other Fed officials, giving impetus to the greenback. The kiwi traded at 72.79 US cents as at 5pm in Wellington, from 73.16 cents late yesterday. The trade-weighted index fell to 77.16 from 77.38, still above the RBNZ's projection for the TWI to average 76 this quarter. Yellen's speech at the Jackson Hole retreat for central bankers on Friday has come into sharper foc...

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