NZ dollar falls to 3 1/2 month low as rising US interest rates bring trading back to fundamentals

Tue, 24 Apr 2018

By Paul McBeth April 24 (BusinessDesk) - The New Zealand dollar fell to a 3 1/2 month low as rising US interest rates prompted traders to focus on economic fundamentals, where higher yields in the US offer greater returns than elsewhere, spurring demand for the greenback. The kiwi dropped to 71.14 US cents as at 5pm in Wellington, extending its decline from 71.44 cents at 8am and 72.03 cents yesterday. The trade-weighted index fell to 73.68 from 74.24 yesterday. The Dollar Index reached a three-month high after the yield on US 10-year...

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