NZ dollar falls as US tax cut progress, Powell's rate hike signal lift greenback

Wed, 29 Nov 2017

By Rebecca Howard Nov. 29 (BusinessDesk) - The kiwi fell as the US dollar gained ground on signs of progress on American tax cuts and after Federal Reserve chair nominee Jerome Powell signaled a December rate hike was on the cards. The kiwi traded at 68.88 US cents as at 5pm in Wellington from 69.26 cents late yesterday. The trade-weighted index slipped to 72.68 from 73.03 yesterday. The greenback gained in Asia after Powell told the Senate Banking Committee “the case for raising interest rates at our next meeting is coming together."...

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