NZ dollar falls to 7-month low after Fed raises forecast for 2015 rates

Wed, 17 Sep 2014

By Tina Morrison Sept. 18 (BusinessDesk) - The New Zealand dollar dropped to a seven-month low after the Federal Reserve raised its expectation for the level of interest rates by the end of next year, boosting the lure of the greenback. The kiwi touched 80.73 US cents, and was trading at 80.96 cents at 8am in Wellington, from 81.84 cents at 5pm yesterday. The trade-weighted index fell to 78.09 from 78.50 yesterday. The US dollar index, which measures the greenback against a basket of currencies, rose to a 14-month high after the Federa...

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