NZ dollar gains after cautiously upbeat Fed; Japan unleashes more stimulus

Wed, 27 Jul 2016

By Jonathan Underhill July 28 (BusinessDesk) - The New Zealand dollar rose after the Federal Reserve said near-term risks for the world's biggest economy were diminishing, keeping on track expectations for an interest rate hike this year. The kiwi rose to 70.71 US cents as at 8am in Wellington, from 70.38 cents late yesterday. It gained to 74.36 yen from 74.16 yen following Japan's announcement of a stimulus package of more than 28 trillion yen (US$265 billion), bigger than expected and lifting expectations for easing by the bank of Japan...

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