NZ dollar gains as Fed hikes rates, sticks to projection of two more in 2018

Wed, 21 Mar 2018

By Jonathan Underhill March 22 (BusinessDesk) - The New Zealand dollar rose after the US Federal Reserve hiked interest rates as expected and stuck to its projection for two more increases this year - one less some in the market had bet on. By contrast, the Reserve Bank is expected to keep kiwi interest rates unchanged this morning. The kiwi dollar rose to 72.28 US cents as at 8am in Wellington from 71.78 cents late yesterday. The trade-weighted index rose to 74.17 from 73.97. The US dollar index fell after the Fed said the US economic...

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