NZ dollar falls to 4 1/2-year low after US employment data boosts prospects of Fed rate hike

Sun, 07 Jun 2015

By Tina Morrison June 8 (BusinessDesk) - The New Zealand dollar fell to its lowest level in more than four and a half years after better-than-expected US employment data cemented expectations that the US Federal Reserve will raise interest rates in September. The kiwi touched 70.25 US cents over the weekend, its lowest level since August 2010. The local currency was trading at 70.32 US cents at 8am in Wellington, from 70.44 cents at the New York close and 71.39 cents at 5pm in Wellington on Friday. The trade-weighted index dropped to 74.0...

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