NZ dollar gains as doubts emerge about Fed hike in June

Mon, 23 May 2016

By Jonathan Underhill May 23 (BusinessDesk) - The New Zealand dollar rose on speculation there are enough uncertainties facing the Federal Reserve to discourage it from hiking interest rates in June, although the odds of a Reserve Bank rate cut next month have also diminished. The kiwi rose to 67.94 US cents as at 5pm in Wellington, from 67.62 cents at the New York close on Friday. The trade-weighted index rose to 73.08 from 72.82. The market is bracing for another round of Fed officials speaking this week, starting with St Louis Fed P...

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