NZ dollar gains after Mnuchin says impact of US tax reform will take time

Thu, 23 Feb 2017

By Jonathan Underhill Feb. 24 (BusinessDesk) - The New Zealand dollar rose after new US Treasury Secretary Steven Mnuchin indicated it would take time for fiscal policy reform to impact the US economy, frustrating traders betting on Trump administration stimulus and a stronger greenback. The kiwi rose to 72.27 US cents as at 8am in Wellington from 72.01 cents late yesterday. The trade-weighted index rose to 78.55 from 78.43. The US dollar weakened after minutes of the last Federal Reserve policy meeting were deemed more dovish that th...

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