NZ dollar gains as central banks meet market expectations, dairy outlook brightens

Thu, 22 Sep 2016

By Jonathan Underhill Sept. 22 (BusinessDesk) - The New Zealand dollar rose after the US Federal Reserve and the Reserve Bank kept interest rates on hold, as expected, keeping the kiwi on track to shed some of its yield advantage later in the year. The kiwi rose to 73.29 US cents as at 5pm in Wellington from 72.85 cents late yesterday. The trade-weighted index was little changed at 77.78 from 77.79. The Federal Open Market Committee kept the federal funds rate unchanged while saying the case for an increase has strengthened and indica...

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