NZ dollar gains after Fed's Brainaird cools US rate hike expectations

Tue, 13 Sep 2016

By Paul McBeth Sept. 13 (BusinessDesk) - The New Zealand dollar gained after Federal Reserve governor Lael Brainard cooled expectations for a US rate hike next week, while the domestic economy continues to stoke demand for the kiwi. The local currency traded at 73.39 US cents at 5pm in Wellington from 73.50 cents at 8am, up from 73.17 cents yesterday. The trade-weighted index rose to 78.13 from 77.93 yesterday. Brainard's speech disappointed some investors who were looking for signs the Fed's poised to raise rates next week, as the v...

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