NZ dollar falls from week-high as Fed's Powell sticks to 'gradual' rate hike view

Tue, 17 Jul 2018

By Paul McBeth July 18 (BusinessDesk) - The New Zealand dollar fell from a week-high after Federal Reserve chair Jerome Powell told legislators the central bank will continue to raise interest rates gradually with the world's biggest economy in good shape. The kiwi declined to 67.82 US cents as at 8am in Wellington from 68.30 cents yesterday. The trade-weighted index slipped to 72.83 from 73.07. Powell told US Senators in a semi-annual testimony on monetary policy that the US economy is continuing to grow at a strong enough pace to w...

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