NZ dollar falls on speculation US dollar will strengthen as Fed edges toward rate hike

Fri, 13 May 2016

By Jonathan Underhill May 13 (BusinessDesk) - The New Zealand dollar declined amid speculation the US dollar will strengthen as the prospects of a Federal Reserve interest rate hike come into view and the market retains its bets that the Reserve Bank will cut rates at least once more. The kiwi fell to 68.01 US cents as at 5pm in Wellington, from 68.31 cents late yesterday. The trade-weighted index fell to 72.73 from 72.84 yesterday. Investors are awaiting US economic figures tonight including April retail sales, producer prices and con...

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