NZ dollar gains as Fed chair Powell seen taking cautious approach to rate hikes

Sun, 26 Aug 2018

By Paul McBeth Aug. 27 (BusinessDesk) - The New Zealand dollar rose as Federal Reserve chair Jerome Powell indicated the central bank won't raise interest rates too aggressively for fear of stifling economic growth and as inflation there remains in check. The kiwi traded at 66.82 US cents as at 8am in Wellington from 66.90 cents on Friday in New York, up from 66.41 cents last week in Asia. The trade-weighted index was at 72.15 from 72.22 last week. The US dollar index fell 0.5 percent and stocks on Wall Street gained on Friday after...

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