NZ dollar gains as dovish Fed raises questions over rate hikes

Thu, 23 Nov 2017

By Rebecca Howard Nov. 23 (BusinessDesk) - The New Zealand dollar gained as markets pared back expectations for US rate hikes next year after minutes to the Federal Reserve's last meeting raised concerns stubbornly low inflation may persist. The kiwi advanced to 68.76 US cents as at 5pm from 68.67 cents as at 8:30am and 68.26 cents late yesterday. The trade-weighted index rose to 72.53 from 72.32. The Fed minutes showed “many participants” observed there was some likelihood inflation might stay below 2 percent for longer than current ...

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